Business Goa June 2021

JUNE 2021

VOL 7 ISSUE 6 PANAJI GOA

RNI No.: GOAENG/2015/59955

POSTAL LICENSE No.: G-2/RNP/Monthly/Goa-19/2021-23

GOA’S ONLY BUSINESS MAGAZINE

INDUSTRY DOSSIER

ENVIRONMENT DAY IDEAS 49 YEARS OF REAL SODA

CREDAI REPORT ON REAL ESTATE

TONIC WATER VAUM

EP KAMAT GROUP’S ECOFRIENDLY PRODUCTS

INDUSTRY CAPTAIN RALPH DE SOUSA

Ralph de Sousa has been at the helm of affairs of various trade and industry organisations in Goa. He has been recently elected President of Goa Chamber of Commerce & Industry

D S Prashant INTERVIEW

Couture by Neha FASHION

Siddharth Kerkar STARTING YOUNG

GoVeda NEW BIZ

NEWS VIEWS ARTICLES INTERVIEWS PROFILES FOCUS ANALYSIS OPINIONS EVENTS FEATURES

India’s Premier Resort Built by Goa’s Elegant Developer

The Hilton Goa Resort is a proud statement by Sun Estates Developers

SUN ESTATES

CONTENTS Cover Story 12

Ralph de Sousa who has been part of various business organisations in Goa, has been elected as President of Goa Chamber of Commerce & Industry. He speaks to Business Goa about the various challenges before the State’s economy, the fate of tourism in view of the pandemic, addressing the problem of the exodus of migrant labour, along with the Chamber’s plan to help small and medium entrepreneurs tide over this crucial period

Focus Goa / Environment 16

World Environment Day reminds us that we have only one planet and that we should do our best to preserve our heritage

12

Focus Goa / Real Estate 18

A survey conducted by CREDAI indicates that the second wave of the pandemic has resulted in delayed projects and made housing expensive. The Association has proposed solutions for the Government to take into consideration

Starting Young 20

24

Siddharth Kerkar, artist, designer and influencer speaks about his range of clothing which is based on the philosophy of sustainability

26

30

Goan Brand 24

22

Aakash Khaunte launches Vaum, an avant-garde brand of tonic water to cash in on the Gin-o-Mania

Interview 26

D.S. Prashant, CEO of Forum for Innovation Incubation Research and Entrepreneurship (FiiRE), a technology business incubator at Don Bosco College of Engineering, Fatorda, speaks about the evolution of the forum and its work in encouraging startups

32

Professional Dossier 32

Dr. Sanat Bhatkar shares his journey on becoming a neurologist and conducting a non invasive brain surgery on a six year old boy, along with his team

Bon Appétit 44

44

20

With the monsoons setting in, lockdowns getting extended, and the endless supply of raw and fresh mangoes, there’s never been a better time to get a taste of Goan Pickles

45

COLUMNS

38 Corporate Citizen

40 Industry Viewpoint

39 Legal Eagle

41 Invest Right

Daniel Albuquerque presents Singapore International Arbitration Centre as the destination for commercial dispute resolution

Ameya A Nayak writes about the Uniform Civil Code (UCC) and its implementation in Goa; and questions whether the UCC is actually as desirable and feasible as it seems

Manguirish Pai Raiker informs about MSMEs being affected due to the pandemic and shares solutions by the Government

Mahesh Pai highlights the different kinds of investment risks along with ways to manage to manage them

06 Editorial 08 Corpo Scan 22 New Biz 28 Campus 29 BookShelf 30 Green Brand 34 CSR 35 Biz Bytes 36 Event 37 Accolades 45 Fashion 46 Newsmakers 46 BG Quiz Cover Pic: ALISTON DIAS 04 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

EDITORIAL Survival Kit JUNE 2021 Publisher & Editor Harshvardhan Bhatkuly Co-Publisher & Group Head Urvija Bhatkuly Advisory Board Datta Damodar Naik Ralph de Sousa Rajiv D’Silva Dr Vivek Mendonsa Swapnil Kamat Business Head Annalise Gouveia Chief Reporter Sybil Rodrigues Distribution & Logistics Mayur Santinezkar Contributors in this Issue Ameya A Nayak Daniel Albuquerque Mahesh Pai Manguirish Pai Raiker Saachi Pai Kane Editorial, Advertising & Administrative Office

Business Goa

409, Citicentre, EDC Patto Plaza, Panaji, 403001 Goa India Tel.: 0832-2437822 Email: businessgoa.media@gmail.com Unsolicited material may not be returned. The opinions in columns and other stories expressed in Business Goa Industry Dossier are not necessarily that of the publishers and the Publisher/Editor shall not be held liable for any inaccuracy or otherwise.

While great care is being taken to ensure accuracy of information, the publishers are not responsible for omissions or incorrect information. No part of this publication may be reproduced without the permission of the publishers.

“It is not the strongest of the species that survives, or the most intelligent that survives.

It is the one that is most adaptable to change,” is a quote often attributed to Charles Darwin.

After living fifteen months with the pandemic, some entrepreneurs have succeeded to survive… or so it seems.

Many businesses have closed or have no way to peddle their wares amidst restricted timings and Covid protocols in the market.

However, some entrepreneurs have found ways to stay in business, not just for the thrill of growth, but to satiate a basic need of humankind – to put food on the table.

Talking to a few standalone entrepreneurs, here are few pointers that have helped sustain businesses in this uncertain word: Accept Change: A key aspect of an entrepreneur’s survival kit, which has helped many to make a dash for it, while the competition lay low hoping for the clouds to pass. Those, who saw this as a new normal, tuned their focus for a new world order and managed to keep their masked faces and heads above water.

Remodel Business: Many survivors took a hard long look at their business and tweaked its model, keenly focussing on revenues and cash flows to stay afloat. It is a bitter pill to swallow when you see numbers so low that you never imagined. But then, it is all about survival remember?

Pivot: Many in the restaurant trade have kept their kitchen burners on by shifting to a cash-and-carry mode. Restaurateurs were hurt with dining-in being no longer an option in total or partial lockdowns, and the limit on number of tables in restricted unlock periods.

Similarly, we have seen vegetable and livestock vendors selling their catch / produce from their vehicles.

Digitise: Those hesitating over the years to take their businesses digital have now been

Harshvardhan Bhatkuly forced to change. Brick and mortar businesses had to rewire their models and turn digital.

Many kirana shops now share their menus via messaging apps, and most accept payment via digital payment gateways – a huge change in digitising India, which has been hastened by the pandemic.

Network: Survival makes you find strange bedfellows! Entrepreneurs who are part of their trade bodies have found help coming their way from unexpected quarters – their own competitors. This has spawned an era of co-operation and has helped many to benefit from business networks.

Find New Markets: As they say, there are only two ways to grow a business; either find a new customer or make your existing customer spend more. With the latter being a bleak possibility, entrepreneurs are finding new customers beyond their usual hunting grounds. Digitisation of their businesses has helped them in this endeavour, as well.

Yes, things are far from being rosy, and worse, the pandemic is far from being over. Last year, around this time, I recall a conversation with a naysayer, who was only happy to predict that doomsday was finally here and that Goan businesses will be wiped out.

I am a firm believer in the human spirit of triumphing over adversity. Years of entrepreneurship and navigating the rough and tumble of running your own enterprise add a sensory edge to your armour that guides you to smell your truffles.

When I read the interesting stories about businesses in this magazine, and mind you, the list keeps growing, despite the pandemic.

The stories of enterprises, being built and nurtured in these challenging times, send out a glimmer of hope to me. I am sure there are others who feel likewise

Printed, published and owned by Harshvardhan V. Bhatkuly and printed at Elegant Offset Printers, D2-31, Tivim Industrial Estate, Karaswada, Mapusa Goa 403526 and published at 409, Citicentre, EDC Patto Plaza, Panaji, Goa 403001. Editor: Harshvardhan V. Bhatkuly

06 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

CORPO SCAN

www.businessgoa.in

EDC records 55% jump in profits Amid the ongoing COVID-19 pandemic, EDC saw a 13 per cent increase in its revenue, and 55 per cent jump in profit during the 2020-21.

The financial institution, during a board meeting, disclosed provisional revenue of `115 crore and `84 crore profits in 2020-21, as against `101 crore revenue and `54 crore profit in the previous year. Managing Director, K V Ballikar stated that the corporation improved revenues by stepping up loan recoveries from private as well as State Government companies. Further, there was a good response to the Modified Interest Rebate (MIR) loan scheme, on which the interest rate is very low,

said Ballikar.

“All our borrowers have paid on time. Even government companies like GSIDC, Sewerage & Infrastructural Development Corporation of Goa (SIDCGL) and Sports Authority of Goa, among others,” said Ballikar. He revealed that the provisional profit shot up due to the sale of a plot at Patto Plaza to RBIGoa, from which the EDC has earned `30 crore, even after deducting the extraordinary income from the sale, the profit was high.

He said that the EDC loan portfolio improved in 202021 as borrowers have good credit rating with track record of timely loan repayments.

Meanwhile, EDC’s

SHACK OWNERS TO SEEK LICENSE EXTENSION FOR ONE YEAR. GOVERNMENT EXTENDS EXCISE PERMISSION TO FIVE SEASONS

Beach shack owners in the northern coastal belt, which constitutes more than half of all the shacks in Goa, are likely to seek a one year extension when the licensing process starts for the upcoming 202122 season. The last season, 2020-21, ended abruptly in March after the surge in Covid-19 cases of the second wave, was the last year in the three-year license period.

John Lobo, General Secretary of the Shack Owners’ Welfare Society, stated that given the pandemic, it was doubtful whether tourists would be visiting Goa, and it did not make sense to issue licenses for the next three years. During the last season, shack owners

were told to pay the fees and erect the shacks; else their licenses would be cancelled.

For many in areas like Candolim and Morjim, which are completely dependent on foreign charter tourists, there was no business, resulting in a complete loss for these shack owners.

Meanwhile, the Government has extended the excise permission validity of such licenses issued to shacks to five seasons, counted from October to May. While the announcement has come as a huge relief to the shack operators as they will not be required to secure the excise permission at the start of every tourist season, the

08 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

GIDC coal block plans in limbo

Goa’s plan to extract coal from the Dongri Tal II, Singrauli, Madhya Pradesh, coal block has hit a roadblock, as the Centre has yet to agree to Goa’s plea for time to complete the formalities and pay `163.9 crore performance guarantees.

It has been more than two months since Goa Industrial Development Corporation (GIDC) wrote to the Union Ministry of Coal requesting for additional time. With no favourable reply forthcoming, the process to appoint a mine de velop er-c um-op erator (MDO) is stuck in a limbo.

Though the Dongri Tal-II

coal block was allocated to GIDC in September 2019, major milestones for the coal mine were missed as the State Government dragged its feet in complying with norms laid down by the Coal Ministry.

GIDC had issued the tender to appoint a MDO for the coal mine in March and with the Centre’s deadline about to lapse, sought an extension on March 28. GIDC had organised a pre-bid meeting with potential coal mine developers and even answered some of their queries, but with no clarity about the coal block itself, GIDC has decided not to proceed with the tender

proposed ‘Market of Goa’ project at Patto Plaza over

8,000 square metre of vacant land is also ongoing

STATE GOVT STOPS IRON ORE TRANSPORTATION DURING RAINS The Goa Government has put a stop to iron ore transporation, during the monsoon, in order to avoid any untoward incidents and accidents in the mining belt.

Mines Director, Vivek H P stated that transportation of ore during the monsoons may jeopardize the safety of citizens using the road network in the vicinity of mining leases or transportation routes of such minerals.

Further, he said that the transportation of mineral by road has been stopped until further notice, except for domestic consumption

or on specific orders of the Collector, due to the position of the jetty vis-à-vis mining leases. The notification is issued in public interest as mandated by point No.11 of Goa Mineral Policy, 2013

development has put them in a quandary. The validity of the license issued by the Tourism Department to an allottee to set up a shack on the beach is three year; while shacks are erected in private spaces beyond the boundary of the beach.

The allottment process has been clearly stipulated under the three-year Beach Shack Policy. The term of license issued by the Tourism Department to an allottee to

set up a beach shack is three years, so the excise license of five years will not hold good.

A Tourism Department official stated that when fresh allotment of beach shacks is done on the conclusion of three years, it was not necessary that the same old allottees would be allotted shacks. Further, he said that the notification issued by the Finance Department, will need to be corrected as the order will create confusion

CORPO SCAN

@business-goa

SIT speeds up probe into illegal mining

The Special Investigation Team (SIT) probing illegal mining in Goa has intensified its tasks and started preparing reports of 126 mining violations before the final decision is arrived at.

A senior police officer said the report is beig prepared based on the scrutiny of documents submitted by the Mines Department on environment clearances, dump handling and fresh extraction.

During the last Assembly session, the Opposition had cornered the Government for not being able to recover the money from mining companies in illegal mining cases. The officer said that based on the reports, Police will take necessary action.

The SIT has filed 16 first information reports (FIRs) in the illegal mining cases, out of which eight have been chargesheeted; three have been closed while three have been

Adverse weather, Covid surge dampens cashew feni industry

The cashew liquor industry in Goa has taken a hit, for the second consecutive year, due to various factors.

While cashew farmers and feni distillers were unable to reap profits last year owing to the lockdown that was enforced from March-end, 2021 hasn’t been any better, as adverse weather conditons affected precious productive months of the season.

Distillers and ‘bhatikars’, who are traditionally involved in feni making, as well as stakeholders in the industry, were forced to give up production a month before the season in May. Gurudatta Bhakta, President, Goa Cashew Feni and Distillers’ and Bottlers’ Association, said, “This season, the cashew produce was 40% less than the usual production due to unfavourable weather conditions. Many wound up their operations in April itself. Also, it was difficult to function after Goa witnessed a sharp rise in Covid-19 cases.” Bhakta said that although the cashew season started on a bright note in February-March, feni manufacturers had a hard time procuring cashew apples due to low yield, coupled with bad weather conditions in the following months disturbed the fruiting pattern, thus leading to loss of crop.

Sanath Bharne, team leader at Madame Rosa Distillery said, “Overall, the yield was low, and the fruit gathering activity was comparitively less. This led to an overall rise in prduction costs.”

For some traders, production was affected due to lack of people who gather cashew apples and transport these to processing sites.

“We shut down our operations mid-April as some of our workers tested positive.

I also contracted the virus, so it was not possible to monitor the production. Hence, we wound up earlier than usual,” says Tukaram Haldankar, Director, Haldankar Cashew Industries. Cashew season usually takes off by midFebruary and continues till the end of May. But this time, the month of May was a washout due to Cyclone Tauktae

10 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

transferred to the respective police stations.

Further, the officer said that three cases have been quashed by the court.

Presently, four police officers are investigating the illegal mining cases, even as the main mining case is pending for investigation. The documents provided to the SIT include environmental clearances (EC) issued to the leases, quantity-related papers and EC limits

DEFORESTATION THREAT LOOMS OVER VAGHERI Goa’s third highest hill, Vagheri, known as the abode of the tiger, is under threat from increasing deforestation and pollution.

While some of the forested areas in the vicinity of Vagheri have been included in the Mhadei Wildlife Sanctuary in 1999, there are still large areas of rich private forests that have been excluded.

In April, owners of the private forest in survey no.

102/1 in Keri had sought permission from the office of Range Forest Officer for bush cutting and demarcation of boundaries.

Though no permission for forest clearance was given, it was noticed that trees were felled causing irreparable loss to the area’s environment and ecology.

RFO Vivek Gaonkar stated that he had given directives to the Round Forester concerned, to verify whether any tree felling had been carried out.

As per the directives of the Supreme Court, the Goa government appointed the Sawant Committee in 1997 to identify private forests in Goa. The Committee found forested areas dominated by more than 75% forest species and above 40% tree canopy in large tracts around Vagheri, as well. Later, the V T Thomas

TTAG upset as State government fails to recognise sector’s workforce as frontline workers The Travel and Tourism Association of Goa (TTAG) is upset with the State Government for not granting its request to declare the tourism workforce as frontline workers (FLW) for vaccination when some States have already done so.

The TTAG had requested the government to declare people employed in the tourism sector as frontline workers, more than a month ago, so that they can be vaccinated at the earliest, before the industry is allowed to restart operations.

President of TTAG, Nilesh Shah said that other segments have already been declared as frontline workers while the government is yet to consider the request of TTAG. He said that business will have to be carried on with Covid around and that people should take all precautions and those not wearing masks in public be penalised.

“Staggered entry could be alowed in clubs and casinos but the key is Covid appropriate behaviour. The industry will have to selfregulate, and deny entry to visitors not showing Covid appropriate behaviour,” said Shah Committee also confirmed these findings in 2017.

However, some area near Vagheri has long been cleared to cultivate cashew and in the degraded areas owned by the Forest Department, under social forestry, monoculture plantation was undertaken.

The green cover of Vagheri hill offers refuge to tigers, leopards and other wildlife and is a great favourite among trekkers and wildlife enthusiasts

Questions to ask yourself 1

For how many more years will everything be right at your current work place?

2

For how many years will your income be safe?

3

Do you need to replace your salary with pension - alternate source of income to secure your future?

4

If “yes”then how much monthly pension - alternative income do you need?

5

Biggest challenge: “Finding one authentic Investment for pension in India”

Pic: Aliston Dias

COVER STORY

INDUSTRY CAPTAIN RALPH DE SOUSA

12 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

@businessgoa

Ralph de Sousa, a travel and tourism entrepreneur, who has been part of various business organisations in Goa, has been elected as President of Goa Chamber of Commerce & Industry. His involvement with the Chamber spans almost two decades, and he is also on the Board of Governors, Government of India Ministry for Tourism’s Institute of Hotel Management, Porvorim. He speaks to Business Goa about the various challenges before the State’s economy, the fate of tourism in view of the pandemic, addressing the problem of the exodus of migrant labour, along with the Chamber’s plan to help small and medium entrepreneurs tide over this crucial period. Further, Ralph elaborates on the issue of taxi operators and digital meters, Goa’s heritage and how the tourism industry can use Goa’s rich biodiversity to its advantage, and plans to attract startups and the youth to the Chamber You have been part of many business organisations in Goa. What inspires you to represent industry?

Being a first generation entrepreneur, my commitment to business, enterprise and its well-being is of great importance. By being a part of associations, we are able to address the issues faced by the industry with the government agencies and this helps entrepreneurs generate revenues for the State and create employment for the people.

Associations like the GCCI are a platform where collective wisdom prevails and this is so important to approach diverse issues faced by the members from a correct perspective. Collectively, we can achieve much more as joint deliberation gives us complete dimensions of the issues in question.

How has been your tenure at the Chamber and what has been your profile over the years?

I have been involved with the Chamber for almost two decades and I have served in various capacities. Although I have been the member of the Managing Committee for all these years, I have served as the chairman of the Tourism Committee for two terms, followed by my position among the office bearers, first as Hon Secretary, then as Vice President (Second) and later, Vice President (First).

This has given me an opportunity to work under various presidents coming from diverse industrial backgrounds and professions.

Their wisdom to address the

Ralph de Sousa is the Chairman of the de Souza Group, a business house engaged principally in hospitality business – owning resorts, travel agencies and tour operators.

The Group also owns a construction company and service apartments being the latest addition to its activities.

Ralph is on the Board of Governors, Govt. of India Ministry for Tourism’s Institute of Hotel Management, Porvorim; and has been recently elected as President of Goa Chamber of Commerce & Industry.

The Government of Goa has appointed him on the Board of Directors of Economic Development Corporation (EDC) of the State of Goa, where he was also the former Task Force Member of the Chief Minister’s Rozgar Yojna (CMRY), the micro finance body of the State of Goa,

for 7 years. Recently he has been appointed as a Board Member of the Goa Investment Promotion Board.

Ralph previously held the positions as the Chairman of the Goa America Heart Foundation Trust, President of Travel & Tourism Association of Goa, Chairman and Patron of Goa Heritage Action Group, Trustee of The Museum of Christian Art. He was also Past Chairman of Confederation of Indian Industry – Goa Council.

He has served on various leadership positions at GCCI for nearly two decades.

Ralph belongs to the village of Assagao. He lives in Saligao with his wife Carolina, a former secondary school teacher who completed 30 years of service at St. Mary’s High School, Mapusa, and his two children Carlos Noel and Karla Maris

Ralph de Sousa along with his late brother Norman (right), founded the de Sousa Group – a front runner among home-grown tourism businesses

issues of the industry has been my greatest take away.

What are your primary goals as the newly elected president of the Chamber?

I succeed Manoj Caculo as the President of the Chamber in a troubled era. The pandemic has devastated the industry as well as retail in Goa and in the country. Various issues have surfaced and the new committee will have the task of addressing them with the government. Small businesses and retailers are hard hit as they normally don’t have huge reserves to fall back on; and our larger industries especially in the various industrial estates in Goa are facing all sorts of problems.

Mitigation of these issues and our efforts to help put the industry and commerce back on rails will be the challenges that my team will have to deal with.

What are the various hurdles faced by Goa’s economy during the pandemic?

The pandemic has created huge losses to the business.

Many industries are facing liquidity issues and difficulties in meeting financial commitments. On the other hand, the migrant labour who work in these enterprises have gone back to their home States. As we source all our raw material from out of Goa and our finished goods are marketed outside the State, the stoppage of transportation creates a dual challenge. Many ancillary industries that are suppliers to the larger industries are also experiencing a fall in

JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 13

COVER STORY

@businessgoamagazine

production as the larger industry themselves are facing problems.

As a travel and tourism entrepreneur, you have been vocal about the industry. How do you see the fate of tourism in the State, what with uncertainty and the pandemic looming large on the fortunes of the sector?

Tourism is the worst affected industry in this pandemic.

In case of any problems, the hospitality industry is the first to get affected and last to recover. 2017-18 has been a subdued year for tourism, as the economic downturn reflected in the fall of MICE tourism. Thereafter, it has been difficult trying to remain afloat inspite of the challenges of lockdowns, curfews and travel constraints imposed by the State to curtail the infections in this pandemic.

There was a window opened last November, with the influx of domestic tourists making their way into Goa when the borders were opened; but unfortunately this was short lived, as by March, the second wave made its appearance.

The industry now awaits to cautiously open its doors in the month of November, awaiting to welcome the travelers from the domestic market. Being a popular destination, Goa is fortunate to have huge number of repeat tourists who frequent our State for their holidays.

We require a very strong professional body to plan and execute the revival of the tourism industry in Goa; and this is the right time to get the Goa Tourism Board up and running, with experienced trade professionals as its members so that the much required planning and direction which is vital for the industry, is in place and in the hands of industry professionals.

The lockdowns imposed due to covid have been a huge challenge for industry, with many workers fearing job loss and

“We require a very strong professional body to plan and execute the revival of tourism industry in Goa; and this is the right time to get the Goa Tourism Board up and running” RALPH DE SOUSA President Elect, GCCI

talking of migrating back to their hometowns, yet again. How do you wish to tackle the situation and advise the government?

The lockdowns imposed due to the pandemic have resulted in chaotic situations for the labour sector. Hordes of labour from all over the country migrated back to their native States in this time of uncertainties. The electronic media footage depicting this mass migration did not help the situation but increased a panic among the migrants.

Unlike other States, things in Goa were much calmer and the migrant labour suffered minimum hardships. The State Government arranged trains to transport the migrants to their State and the Goa administration efficiently played their role to ensure safe travel for the labour. In our State, the migrant labourers were made comfortable in various labour camps that were established, with food and shelter being provided by the State, industry and the people of Goa. The exodus from the State resulted in many factories being shut on one side and numerous workers losing their jobs on the other. When the first wave was addressed

14 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

and in control, trains were recommissioned and many a labour came back to work.

Before they could actually settle down, the second wave made its appearance, causing a flutter again – once more Goa saw migrants leaving the State; but this time, in much smaller numbers. One of the ways to ensure that this problem is addressed is to start a vaccination drive of the workers in all the industries.

This will protect them from infections and raise the confidence of the workers, as well as their employers, which will result in uninterrupted production. Of course, taking every caution and respecting all norms preventing the spread of disease, vaccination is the answer and we have already started this in Goa. Many small and medium entrepreneurs have lost their livelihoods, with zero income coming their way over the last 14-15 months. What is the Chamber’s plan to alleviate their misery?

MSMEs and small traders are one of the worst affected as their businesses almost came to a standstill. The Chamber has requested the State Government to come up with a rescue and revival package for this sector. The other suggestions like giving extended time limits to pay utility charges as well as taxes and levies have also been presented to the authorities.

It is the Chamber’s view that the State has to patronise small industries by purchasing all their requirements from these industries in Goa. This will, to an extent, boost their revenues.

Talking about tourism again, the recent cyclone has caused loss of huge amounts to the shacks and small hotels on the coastline…

The current paralysed season was further worsened by the cyclone that struck Goa recently. The shacks, as well as the coastal hotels and restaurants, suffered severe

damage with many a roof blown off and structures damaged by fallen trees and electricity poles. The power and communication was disrupted for over a week and this further aggravated the devastation that the hospitality business is already facing. As the monsoons are here, restoration and repairs to the damaged property has to be undertaken on a war footing before the onset of the rains washes away whatever is left. This is the predicament faced by the players in the hospitality industry today.

The taxi operators are not in a mood to comply with affixing meters to their vehicles. The Chamber has been vocal in supporting the government. As a travel entrepreneur, what winwin situation can you suggest to break this impasse?

The Chamber is supporting the government because it is of the view that the taxis in every category should be fitted with digital fare meters.

This will give a boost to the confidence of the customers that s/he is paying the legal fare, and it will also create a level playing field to the taxis operated by different companies.

It has been suggested to have just four categories for establishing the rates, the non AC, the standard AC, the premium AC and the limousine service taxis. The rates fixed should be such that they should not put the taxi driver out of his pocket and at the same time they should be affordable to the customers, be they, tourists or locals. This is important, as the self-drive cars and bikes on hire are available as an option.

Goa’s new Tourism Policy endeavours to focus on heritage and hinterland. As a heritage lover, how do you see this new idea panning out for the industry?

Goa is a small State offering various attractions.

We have the warm waters of the

www.businessgoa.in

Kharangate (Managing Director, Mangal Analytics & Research Consulting Pvt. Ltd.); Chandrakant Gawas (Prop., Sagar Marine Services); Dhirendra Thakker (Partner, Hiralal & Co.); Girish Bharne (Vice President, Persistent Systems Ltd); Goutam Raj (Plant Head, MRF Ltd); Harshvardhan V. Sinai Bhatkuly (Director, Business Goa); Dr. Jennifer Lewis e Kamat (Partner, Kamat Infra

Arabian Sea laced by world famous beaches. Our villages are where the soul of Goa resides – they are unique, self contained and prosperous.

Our hinterland consists of rivers with their tributaries, palm groves, sluice gates, paddy fields, mango and cashew orchards, to mention a few. This is the tapestry of Goa’s hinterland. Beyond the hinterland, we have evergreen forests guarded by the Western Ghats where wildlife sanctuaries are nestled. This is God’s gift to Goa and if it has to be shared with our guests we have to approach this sector cautiously, giving due respect to the local culture, heritage and lifestyle. We have to be an inclusion rather than an intrusion, when we visit the hinterland. Development does not mean concretisation and all that is required is to preserve, conserve, encourage and support the local traditions and heritage that exists in their natural settings.

By encouraging home stays, we will not find the need for new hotels to make their presence in these areas.

What better way to enjoy and understand a place than living with a family, being part of the local culture and enjoying the local village lifestyle.

are the cradles which have nursed the industries when they made their appearance in Goa. Over a period of time, they have grown in size and in the number of industries that they host. These are the hubs of the industrial sector in Goa. As time went by the infrastructure that was provided is renderred insufficient, and requires upgradation. As power, water, roads, and communication have not kept pace with the growth of the industry and hence many industries are forced to work under capacity, while the expansion programs and new industries coming up in these estates have been delayed. What the estates require is boost in infrastructure, transparency in its administration and total upgradation in the facilities that will ensure that the present as well as the future industry will run without hiccups. The decades old infrastructure is falling apart and the tired looking facilities are not going to survive for long, hence proper budgetary allocations are the need of the hour for the smooth running of the industry and for the prosperity of Goa.

The State Budget has allotted a measly `10 crores for upgradation of infrastructure at industrial estates across the State…

We have industrial estates in every taluka and these

What ideas do you cherish about the various Presidents with whom you have worked at GCCI? I had the privilege of being a part of the team of six Chamber presidents and they were all a great source of confidence and knowledge which impacted all of us.

Pic: JoeGoaUk

GOA CHAMBER ELECTS NEW MANAGING COMMITTEE FOR 2021-23

The elections for the post of President and 14 Managing Committee Members of Goa Chamber of Commerce and Industry for the term 202123 were held recently.

While Ralph de Sousa was earlier elected unopposed as President for the term 2021-23, the 14 posts for the Managing Committee were also elected unopposed.

The newly elected members are: Ashutosh

Tech); John Joseph D’Souza While Nitin Kunkolienkar was a man of energy and dynamism, Cesar Menezes was a source of calmness and wisdom. Manguirish Pai Raikar showed patience in times of pressure and was the voice of small traders. Nana Bandekar, an able administrator, was meticulous in his dealings and was respected by the members for his constant assistance. Sandeep Bhandare is a professional and he dealt with the issues presented to him very meticulously with in-depth analysis leading to viable solutions, while my predecessor Manoj Caculo was at the helm of the Chamber for past two troubled years and he navigated the affairs with grit and determination.

What more can we take home other than the above traits that our past presidents have shared with us through actions and by example.

How do you plan to attract young entrepreneurs and startups to the Chamber?

We intend to work closely with the various existing platforms that encourage and mentor startups in Goa. We will explore the possibility of bringing them in as an integral part of the Chamber’s industry committee. The Chamber can thus act as a facilitator, take the issues with the authorities and be a bridge between the startups and the State government. By involving startup entrepreneurs, we

(Prop., Dsouza Biotech); Pratima Dhond (Prop., Swadeshi Bhandar); Rajesh Dempo (Managing Director, Vision Dempo Hospitality & Estates Pvt. Ltd.); Salil Kare (Partner, Drogaria Salcete); Dr. Sangam Kurade (Chairman & MD, Zuari Foods & Farms Pvt. Ltd); Shrinivas Dempo (Chairman, Goa Carbon Ltd.); Yatin G. Kakodkar (Director, Apex Packaging Products P. Ltd) can come up with a profile of their requirements and get it addressed by the State authorities or create a synergy with banks or financial institutions to help address their financial requirements.

This way, the required assistance can be availed in the precise areas stated in the profile.

The sub-committees at the Chamber are the organisation’s key strength. Tell us about your plans for the same.

Yes indeed.

The sub committees are the foundation on which the Chamber’s activities rest. Inspite of the paralysis in the economy that we are facing today, many of our committees with the chairpersons and their members have come up with various suggestions and policies not only to mitigate the current problems but to shape up the things in the future. There is a system that has been recently introduced where once a month the chairpersons of various committees interact with the managing committee to discuss the issues faced by the respective sectors – and this system will continue.

The changes and reshuffles brought in by the pandemic have also brought to the fore the prominence of the pharma and healthcare sector as well as medical fraternity.

These sectors will be given due importance when we restructure the Chamber’s committees

JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 15

FOCUS GOA / ENVIRONMENT

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A Time for Nature and the Environment World Environment Day (5th June) reminds us that we have only one planet and that we should do our best to preserve and maintain our natural beauty and heritage

By SYBIL RODRIGUES

W

orld Environment Day is celebrated on June 5 every year and is the biggest awareness campaign launched by the United Nations since the early 1970s.

It is that time of the year when civil societies, environmentalists, school students and global leaders take a moment to reflect and contemplate upon the impact of human activity on Mother Earth. With the climate crisis having made and still making, irreversible changes to our lives as we know it, World Environment Day is also a time to think about unique, workable solutions that can help in resolving issues such as deforestation, plastic pollution etc.

The theme for the World Environment Day 2021 is ‘Reimagine. Recreate.

Restore.’, and Pakistan will be the global host this year. The country marks the completion of planting one billion trees as part of its ambitious 10-billion tree campaign.

The day has gained significance this year as it marks the start of the UN Decade on Ecosystem Restoration – a mission to halt, prevent and reverse the degradation of ecosystems around the planet.

Goa celebrates World Environment Day Several efforts have been made by the Government of Goa to restore the State’s ecosystem, to make up for the damages that have inadvertently crept in due to various commercial activities. Furthering this resolve, the Chief Minister has announced that the State Government will create hundred water bodies and plant trees, among other things.

Moreover, the State Government has been

focusing on the development of wildlife sanctuaries as they help in maintaining a balance in the ecosystem of Goa. The Forest Department of the State has trained 250 youths, who will now work as forest guides and aid in the task of restoration.

Amidst the pandemic, there have been significant developments that should

“We must ensure environmental justice, strive hard to achieve environmental balance by adopting principles of ‘Net Zero’, promote community participated coastal restoration by way of introducing erosion defiant species along the coast”

FR. BOLMAX PEREIRA Assistant Professor of Botany

16 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

concern environment lovers.

The battle to save Mollem in Goa has been a hard fought one. The Bhagwan Mahaveer Wildlife Sanctuary and Mollem Nature Park came under attack with the announcement of three linear projects – a double track railway line, an additional power grid and widening of roadways – that would have destroyed the pristine bio-diversity of the Western Ghats.

A remarkable grassroots campaign saw students, teachers, lawyers, ecologists, wildlife scientists, artists, poets, musicians, journalists and just ordinary citizens and lovers of nature coming together on the streets and online, in a remarkably co-ordinated fashion to proclaim their dissent. These voices were found in poems, songs, dance, memes, films, investigative articles and petitions. More than two dozen scientists came together to do a “peer reviewed” cumulative Environment Impact Assessment of the three projects.

All this culminated in a petition before the Central Empowered Committee, the fact-finding body appointed by the Supreme Court. The Committee recommended changes in two projects with the requirement of

Environmental Clearance and the scrapping of the third.

The battle is not yet over, but what started on World Environment Day, last year, has certainly resulted in a model to emulate for green activists the world over.

Fr. Bolmax Pereira, Assitant professor of Botany, St. Joseph Vaz College, Cortalim, says, “World Environment Day being held in Pakistan this year has a central theme ‘Generation Restoration or Ecosystem Restoration’. The attempt is to restore the degraded ecosystem by decreasing destructive pressures, reducing the increasing levels of pollution and conserve the still intact ecosystems of the world. The event will also mark the launch of UN Decade on Ecosystem Restoration.”

Further, he says that Goa needs to do a lot in this regard. “We still have intact eco-systems in our Western Ghats, new floral species still are being discovered, yet the present government dispensation seems to be blinded by crony capitalists by pushing destructive projects through our Mollem forests. Illegal hill cutting at various places in Goa is being overlooked (or should I say promoted?!) by the administration under the dark cover of the pandemic. We must ensure environmental justice, strive hard to achieve environmental balance by adopting principles of ‘Net Zero’, promote community participated coastal restoration by way of introducing erosion defiant species along the coast. Listen to the genuine voices and consult indigenous people and scientists for Restoration of the degraded land, water and air.”

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Urbanisation and the Environment Goa, like any other Indian State, is suffering from unsustainable urbanisation, climate change, biodiversity loss, and the degradation of ecosystem services, coupled with problems of water scarcity, flooding and pollution.

Goa’s capital Panaji, too, is no stranger to such problems.

Panaji is an intricate network of waterways, low lying areas, and traditionally reclaimed agricultural lands. Multiple ecologically vulnerable areas present an opportunity for the implementation of nature-based solutions. A major problem in the city is seawater ingress in inland aquifers along the tidal river courses, which, coupled with groundwater exploitation, is increasing water scarcity.

The salt water intrusion has also affected the quality of groundwater in the city, along the Mandovi River and Zuari River in parts of the Tiswadi taluka.

The ecologically rich mangrove ecosystems along the rivers Mandovi and Zuari, and along the St. Inez and Ourem creeks face the risk of being destroyed for reclamation for commercial and residential buildings.

The reduction of the mangrove cover is leading to increased soil erosion, habitat destruction, and increasing the risk of storm surges.

The erosion of the Khazan lands, which are ‘community managed, integrated agrofishery ecosystems’, can lead to flooding.

The rampant construction on the reclaimed marshlands and agricultural lands is increasing the threat of water logging.

Some Indian coastal cities are already engaging in steps to integrate biodiversity and ecosystem services into spatial planning, land use management, local economic development and infrastructure design.

“At the GCZMP draft public hearing on 8th July, I appeal to all Goans to fight this violation of our beautiful natural heritage coastline, our beaches, our rivers, our ponds, our springs, our waterfalls, our wetlands” PRAJAL SAKHARDANDE Historian and Heritage Activist

As locals and organisations come together to combat climate change and help preserve ecosystems, architecture proves to be a standout player in the game.

Though an architect is not the person who will actually be constructing the structure, they are the ones who provide the blueprint, and as such are the people who can influence the end product.

An architect is an artist whose canvas is real-estate (empty outdoor space), which consists of naturally occurring things such as vegetation, land formations, terrain, soils, etc.

As an expert in designing a concrete structure in a particular area, how would an architect visualise and design the structure in order to retain and preserve (as much as possible) the sanctity of these naturally occurring elements, with as little impact on the environment as possible?

Rajiv D’Silva, architect, says, “While it is not possible in most cases to build without impacting at all the natural environment in which the building is being built, it is possible to use design

strategies to minimise this impact. One of the simple ways is to try as much possible to preserve the major natural features such as trees, rock formations and slopes by designing the building around them. Thus if there is a large tree right in the middle of the site, rather than chop it down, one can design the house such that the tree fits into an internal courtyard within the house. Similarly, many people think that the first thing to do with a property is to level it completely, especially if it is undulating or sloping. This is not at all necessary; the building can be designed to follow the natural contours of the land. Buildings designed in the way are more beautiful too!”

This is where the concept of ‘green architecture’ comes up. Green architecture is a method of minimizing the negative effects built structures have on their surrounding environment. It’s a philosophy that draws on the environment as inspiration to deliver low-impact, adaptable, and healthy spaces.

Green buildings are designed, constructed, and operated with a focus on conserving energy, sourcing eco-friendly/ recycled materials, and preserving the bio-diversity of the area. Goa is yet to try out green architecture in order to make a difference.

Beach Please!!!

The latest controversy to raise its ugly head much to the disconcertation of environmentalists and locals is the construction of retaining walls at public beaches.

The construction of a ‘retaining wall’ along North Goa’s Vainguinim beach by the promoters of an adjoining five star resort has raised the hackles of the civil society, which has called the wall illegal, even as the hospitality group, has maintained that the wall is being built in its own property and

with permissions from the state government’s Water Resources Department.

Historian Prajal Sakhardande states, “The concrete wall on the beautiful Vaiguinim beach flanking Cidade de Goa has sent shock waves across the whole of Goa. People are angry and there is a huge public outcry against the hotel that has constructed the wall violating and flouting all CRZ regulations, GCZMA rules etc. The hoteliers are claiming that it is private property. How can a beach be someone’s private property? It is Goa’s natural heritage and should remain in the public domain. This act of rich elite hoteliers, anti-heritage and anti-environment people should be condemned.”

Sakhardande goes on to add that this will set a precedent for other hotels to follow suite. “In Morjim, a concrete wall has been built following this Vaiguinim beach wall. Soon, it will be a trend everywhere and other hotels in the garb of sand erosion will throw sand in the eyes of the people and privatise these smaller beaches thus making them part of their hotel property.”

Sakhardande appeals to the people of Goa, “At the GCZMP draft public hearing on 8th July I appeal to all Goans to fight this violation of our beautiful natural heritage coastline, our beaches, our rivers, our ponds, our springs, our waterfalls, our wetlands.

Stop destroying our natural historical heritage.”

The UN Decade on Ecosystem Restoration is an effort to encourage countries to ‘reimagine, recreate and restore’ our relationship with nature.

For India and Goa, to get a headstart in this journey and be an active part of the UN’s restoration effort, meticulous attention to nature in cities, preserving biodiversity and heritage should be a concern for all authorities and policymakers

JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 17

FOCUS GOA / REAL ESTATE

@businessgoamagazine

Real Estate reels under the second wave of Covid: CREDAI

A survey conducted by CREDAI indicates that the second wave of the pandemic has resulted in delayed projects and made housing expensive. CREDAI has proposed solutions for the Government to take into consideration

T

By SYBIL RODRIGUES

he second wave of Covid-19 has dealt a massive blow to the real estate sector, with apartments and homes becoming more expensive and construction delayed. A study by the Confederation of Real Estate Developers’ Association of India (CREDAI) found that construction activity – particularly in the affordable and mid-range segmenthas been affected due to the exodus of migrant labourers and delays in approvals.

CREDAI has stated that the real estate sector was already bearing the domino effect of the first wave as the disrupted supply chain had barely started to recover, and now, with States imposing fresh lockdowns and curfews, the supply chain will continue to stay affected. Further, CREDAI’s Report said that normalcy could take six to nine months to return.

The Association’s Report also makes mention of those who wanted to buy new homes, given that construction costs has increased between 10% to more than 20%. The prices of cement, steel, labour and other supplies have soared.

All these aspects together, are expected to put a strain on real estate transactions and project completions. Goa’s real estate market is expected to remain inert for several quarters.

NATIONAL RESEARCH FINDINGS • 78% developers feel stamp duty waiver / reduction will help in demand creation.

• 75% developers feel Input Tax Credit (ITC) on GST and others will improve financial viability of projects.

• 66% developers feel loan restructuring will help in alleviating financial

constraints.

• Sharp increase in cost of construction material is a major concern for developers (especially cement, steel, aluminum, copper, PVC and plastic prices).

• Single-window clearance for all project approvals and work commencement will help in expediting project completion.

ADDITIONAL SOLUTIONS PROPOSED BY CREDAI NATIONAL Extension of all the existing approvals accorded to real estate by 9 months.

In case of real estate, even after the lockdown is lifted, it will take months to mobilize labour and materials.

Though States have exempted construction activity from the lockdown, the mass movement of labour back to their home States, along with States imposing fresh curfews, the supply chain will continue to stay affected.

These factors will have a direct impact on project timelines leading to delays in underconstruction properties and will come under the

18 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

CREDAI stated that the real estate sector was already bearing the domino effect of the first wave as the disrupted supply chain had barely started to recover, and now, with States imposing fresh lockdowns and curfews, the supply chain will continue to stay affected ambit of RERA violations.

Rapid vaccination leading to decrease in infections and deaths will restore the confidence of labour and only then will labour return to the sites. Going by the experience of the first wave, the situation would take 6-9 months to return to normalcy.

Relief package for Covid-19 second wave for the Real Estate Sector CREDAI believes that the

following measures need to be brought in on an urgent basis so that immediate relief can be given to the industries: a. Moratorium on existing debts across borrowers towards principal and interest for all loan classes including SMA 0, SMA 1 and SMA 2, for all loan types including working capital, term loan, non-convertible debentures (NCD), etc needs to be brought back for the next 6-12 months, so that borrowers can get relief against the effects of lockdown effecting the livelihood of all. CREDAI also pleads that there should be no compounding interests on the moratorium period as per the relief given by the Supreme Court vide order dated 23 March 2021. b.

Freezing of SMA classification for loans for the next 12 months so that industries can use this time to work on revival of their already stressed businesses. c. Freezing of Insolvency and Bankruptcy Code (IBC) action against borrowers. d. Support of liquidity to industries by additional measures like:

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(i) Lowering LTV of working capital loans so that additional liquidity can be given to existing borrowers. (ii) Bringing out additional ECLGS schemes for the sectors notified by the K V Kamath Committee. (iii) Extension of DCCO of existing loans by another 2 years to ensure existing loans doesn’t slip into SMA and NPA rating.

Proposed Amendments in GST

by Real Estate industry in Goa There is a need for multipronged approach to revive the housing and real estate sector in Goa – and amendments in GST is one of them. It is 4 years since GST was introduced with an objective of ‘One Nation One Tax’ and seamless flow of credit across the supply chain; and real estate developers were quick to adopt transparent practices in their businesses.

A. Option to choose between scheme of 12% GST (8% for affordable housing) with Input Tax Credit (ITC) and Composition scheme of 5% (1% for affordable housing) without ITC. Under the composition scheme, the developer is not allowed to avail the credit of input tax paid in the process of procurement of goods and services. In housing and real estate, construction sector, most of the purchase of goods and services is done at 18% GST, with cement being at 28% GST. The total value of per square foot GST cost is anywhere between `360 per sq.ft to `500 per sq.ft, depending upon the project specifications.

This has resulted in proportionate increase in the cost of construction since no input credit benefit is allowed post advent of the composition scheme. This defeats the very basic objective of creating affordable and mid income housing for the society. CREDAI Goa states that the developers should

be given an option to choose between 12% GST rate with ITC (Assessment scheme) and 5% GST rate without ITC (Composition Scheme).

This would also be keeping in line with the spirit of the Act which provides for free flow of credit across the supply chain and avoids double taxation.

B. GST on Works Contract services Basically, contract services qualify for the definition of Works Contract Services under section 2(119) of the CGST Act, 2017 as it has elements of both provision of services and sale of goods.

Government had bi-furcated the work contract services into two broad heads for the purpose of deciding the rate of tax applicable which are: • For Composite supply of works contract as defined in clause 119 of section 2 of Central Goods and Services Tax Act, 2017 GST rate of 18% is applicable on Non-Governmental Works contract services.

• For Composite supply of works contract as defined in clause (119) of section 2 of the Central Goods and Services Tax Act, 2017, supplied to the Government, a local authority or a Governmental authority a GST rate of 12 % is applicable.

To ensure parity, GST on Non-Government / private works contract services too should be charged at 12%.

C. Eligibility of Input Tax Credit of construction of property for renting/leasing purposes As per the GST law, any lease or letting out of such constructed immovable property will be deemed to be service and taxable under GST at the proposed rate of 18%.

However, as per Section 17(5) of GST law, credit is restricted for goods / services procured for construction (which includes renovation, repair etc) of an immoveable property when such property

CREDAI has submitted that the ITC restriction leads to enhanced cost burden on the total cost of construction of the property and will escalate the project costs.

Moreover, high rate of GST on inputs/ input services will have an adverse impact on the working capital of the company, especially in the prevailing situation of decelerating growth amidst COVID-19 is for own use (such as further renting out).

Furthermore, input tax credit for construction (including renovation, repair, alteration etc) is disallowed which is against the principle of GST to provide a seamless credit chain. The foundation of GST regime was to allow credit offset across the entire transaction chain and such credit restriction leads to a blockage of credit and hence, increases tax costs.A CREDAI has submitted that the ITC restriction leads to enhanced cost burden on the total cost of construction of the property and will escalate the project costs.

Moreover, high rate of GST on inputs/input services will have an adverse impact on the working capital of the company especially in the prevailing situation of decelerating growth amidst COVID-19.

CREDAI suggests that one of the primary objectives behind the introduction of GST is to enable seamless flow of input tax credit across the value chain. The additional costs on account of blocked credit will be crippling for the industry. Accordingly, it is suggested that the restriction to avail ITC should be

removed to ensure seamless flow of credit to businesses where the property being constructed is being used for further providing an output service (such as renting, hotels, malls etc).

D. GST on Cement There has been continuous surge in prices of construction raw materials including cement since January 2020.

In the first quarter of 2021, cement prices rose by approximately 25%.

The high prices of cement directly affect the affordability of houses, thereby making affordable housing unviable.

To mitigate this situation, CREDAI has suggested that GST on cement should be reduced from 28% to 18% (Excerpts from a Report by CREDAI National Research: a Study on the Impact of the Covid-19 Second Wave on Real Estate Sector in India)

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JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 19

STARTING YOUNG

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SIDDHARTH KERKAR

Sustainable and organic fashion, the Goan way

Siddharth Kerkar, artist, designer and influencer speaks about his range of clothing which is based on the philosophy of sustainability

S

By SYBIL RODRIGUES

iddharth Kerkar is a Goan artist, designer and influencer. His creations are a blend of his fascination with textures and minimalistic patterns. He merges fashion, art and lifestyle to create unique and luxury products.

His clothing is handcrafted, using sustainable fabric and unique artistic sensibilities, these creations are an amalgamation of design, craftsmanship and local stories.

Siddharth speaks about himself and says that he is primarily an artist. “I have always been painting from a very young age. Many people from my family are artists and I’ve been exposed to art from a very young age. Most of my travels as a kid were to check out museums and exhibitions, because of which I had a lot of exposure to art.” He ended up pursuing a degree in Fine Arts from The Chelsea College of Art, London. Living in London also opened up many avenues to art, where he would check out galleries every week which helped him hone his skills. “Being part of a University that was big on fashion, made me consider creating my own clothing line; I began wearing my own creations to different events and people would ask me where I’d get my stuff from.

Eventually I began getting a few orders and later got into influencing.”

Siddharth later thought of creating his own brand, which would be more on the lines of sustainability and would be organic. “I went to Jaipur and got in touch with some artisans who would do block prints and after a week we made a few designs and went on to launch our first collection, last year in midAugust.” His brand slowly

Siddharth Kerkar

took off from there and later in December he turned one of the rooms in the museum into a store. Siddharth says that all his clothing is handmade, by local tailors, and they have about 50 women who create unique products for the ‘Museum in Goa’. Using their skills he also created the re-usable packaging material from waste cloth thus sticking to his brand philosophy of sustainability.

Siddharth’s range of shirts and t-shirts have unique names like The Pink Rosa, Sea Kelp. He elaborates on the idea behind his clothing range. “The designs were my idea, wherein most of the blocks were made by artisans, with each block being hand carved. We told the artisans the kind of colours we’d like for each block and if you see

20 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

“My Instagram profile has a lot of fashion and travel videos. But apart from that, most of my videos are of me painting at home. I recently put up a reel where I designed my own bathroom, plus I paint, make lamps and I put all of this on social media. My role of an influencer is also that of an artist and a designer,” says Siddharth the colours they are really unusual like teals and pinks, basically different shades of colours than one would otherwise get. I wanted to give my clothing range names that would go with the identity of Goa and hence the quirky names for the varied

collection that we have.”

Siddharth describes himself as an artist, a designer and an influencer and manages to juggle all three roles with aplomb. “My Instagram profile has a lot of fashion and travel videos.

But apart from that, most of my videos are of me painting at home. I recently put up a reel where I designed my own bathroom, plus I paint, make lamps and I put all of this on social media. My role of an influencer is also that of an artist and a designer.”

He launched his brand during the lockdown when people were at home and malls were closed. The rise of social media during this period helped his brand grow, as there was a surge of people looking to turn into social media influencers.

“People were looking to buy clothes which kind of saw an increase in sales.

Being an influencer myself, I have friends who also helped me push out the brand, thus giving me a strong client base.”

Regarding roadblocks and challenges faced along the way, Siddharth says that he had to shut down a store of his because of the recent lockdown. “Online sales of course, do go on and my primary source of work is my paintings, which I will begin displaying on my website.”

Speaking on his future plans, he says, “I’d like to go in a direction that lets me grow creatively.”

Siddharth concludes with a message to aspiring artists and upcoming designers.

“Find what makes your art or products unique. Go in a direction that makes you feel happy bring out your identity in the best way. This way one will not only be happy, but also successful”

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GoVeda Farms

Get Going with GoVeda

A passionate enterprise of three former bankers to offer the finest of milk and milk products, straight from the farm to the consumer

N

By SYBIL RODRIGUES

eville Noronha, Nello Teles and Dattaram (Rajiv) Narvekar worked with HDFC bank for the longest period of their lives. Between the three of them they have almost 60 years experience of working in the banking industry; right up from junior staff to senior level positions.

At a particular point in their lives, each one of them had a desire to do something other than the routine.

Rajiv and Nello during regular conversations ended up discussing about healthy organic food and then zeroed in on getting into organic farming. They quit their jobs and Neville subsequently joined them. The initial six months went in finding the right place, right products to start with and figuring out a business model. Thus, GoVeda was born and they set up their very own farm in Sal, Bicholim.

(L-R): Neville Noronha, Nello Teles and Dattaram (Rajiv) Narvekar alongwith team GoVeda

Farming is not an overnight process. Like all things natural, it takes its own time, for now GoVeda Farms has mango saplings, banana plantains, papaya trees, Moringa saplings, bread fruits trees, kokum saplings and the local Goan lost fruits – kaanda, jagma, etc growing. The heart of the venture lies in bringing back

22 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

the purer variety of fruits, vegetables, dairy produce – in an unadulterated form directly to the consumer.

With rampant soil depletion, that years of conventional farming has left behind, increasing the mineral content is of utmost importance. Cow manure tops the list of naturally enhancing soil quality. Thus,

Quality has always been at the top of the business decisions for the founding trio of GoVeda

the dairy farming of Desi Gir cows took shape. This indigenous breed was chosen for its hugely better milk quality. In keeping with their ideals of a green culture, the GoVeda Farms, Desi milk is being retailed in reusable glass bottles.

Quality has always been at the top of the business decisions for the founding trio. Their premium product is the artisanal desi ghee ‘AyurGrth’. It is prepared in the traditional Vedic Bilona method.

‘AyurGrth’ (Desi ghee) is made in mud pots, cooked on firewood for around two hours and this process is minutely monitored by Rajiv. This was a process used traditionally in ancient India and after a lot of trial and error they managed to make the right kind of ghee. Thanks to this process of making ghee, their buttermilk too is the thick variety, unlike the

run-off-the-mill watery ones that are available in stores.

Every product made at the farm, is tested by their family and friends. “This is just the start of our journey and we have long way to go,” says Neville.

A visit to GoVeda farms is an exposure to the biodiversity existing there.

There are country hens moving about, goats grazing the green expanse and Gir cows soaking up the Goan Sun. These livestock find their own food on the farm. Fodder is grown for the cows on a land of around 6-7 acres.

They grow a special kind of grass, and sugarcane, in order to reduce costs and make the whole operation more efficient. Urea or any other kinds of chemical fertilisers are not used on the farm. A direct control in what the cows eat also ensures control

A visit to GoVeda farms at Sal, Bicholim, is an exposure to the biodiversity existing there

on the quality of milk.

Marketing of their products is done on a B2B and a B2C platform with social media playing a pivotal role. The immediate plans for GoVeda entails doubling up their milk production so that they can reach a larger consumer base, while the long term goal is to create a brand associated with wholesome dairy and agricultural products.

While the pandemic of 2020 has brought to light the importance of purer, unadulterated food in building immunity, our three Goan farmers have been paving the path to inspire many others to take the road untaken

JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 23

GOAN BRAND

@businessgoamagazine

VAUM

Gin’s new best friend

G

By SAACHI PAI KANE

raduated from MIT Pune, went on to join the family business, started automobile dealerships, and is currently taking over the tonic water market – Aakash Khaunte is nothing short of a go-getter.

His latest venture, ‘Vaum,’ aims to fill in the botanical gap within the tonic water industry. He talks about the choices and challenges that he has faced and learned in the process of launching Vaum.

Lingering onto the idea of investing in the botanical and Indian tonic water segment, Aakash found his moment to shine. “There is a nice space in this industry. A lot of Indian gin brands are being launched, and some of the finest ones are actually made in Goa,” he says. This, along with an increased interest in Gin and Tonic within millennials, investing into the segment has never seen a more opportune time.

Aakash took a flight to Brighton, UK, to meet with mixologists trying out almost

2000 flavours to narrow it down to the first seven. Each of these exotic recipes comes from France, Ireland, and other different European countries.

While people usually pair one fruit, Vaum, a trendsetter in its time, brings in the pairing of two botanicals to add elegance and mystery into our drink. Currently established within the Goan and Bangalore market and moving into Mumbai and Delhi, Aakash tells us about his visions for Vaum, “I want it to become a global name in the industry”. With their inhouse recipes and contract manufacturing, units can be set up across the globe, all in good time. Quinine is an essential part of tonic water. Still, some people do not enjoy its bitterness or are allergic; Vaum also caters to them with their botanicalbased mixers like grapefruit, elderflower and rosemary, cucumber mint, and their hot selling, mango fig. As they network and open up

24 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

Aakash Khaunte launches an avant-garde brand of tonic water to cash in on the Gin-o-Mania

to different markets, all the feedback will help understand the palette of their consumers, allowing them to add more flavours to their inventory.

The process of finding his first seven flavours was a bit of a trial and error method, along with a lot of research and the use of prior

“There is a nice space in this industry.

A lot of Indian gin brands are being launched, and some of the finest ones are actually made in Goa. I want VAUM to become a global name in the industry” AAKASH KHAUNTE

experience and knowledge.

“The fundamental flavours are cucumber, grapefruit and elderflower, we wanted to pair them with different botanicals to complement not just one gin but with other types of spirits,” says Aakash.

A lot of research was done by talking to bar mixologists and professional mixologists who create different flavours for different brands. There were also a lot of open minded discussions about the different flavours, which led to the choosing of the starting seven.

The tonic water industry is a very new and competitive sector; the products have a very limited shelf life. As far as new learnings go, Aakash’s new venture taught him about being more detail oriented, especially when it comes to a product whose recall value can create a big impact. He went through many logos before finding the one that matches the brand’s ideologies, spirit, and soul.

Besides being a catchy word, ‘Vaum’ describes the vibration of water. With all the products being carbonated, “Vaum sounded so perfect for the

While people usually pair one fruit, Vaum, a trendsetter in its time, brings in the pairing of two botanicals to add elegance and mystery into a drink

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brand,” says Aakash.

When asked about the biggest challenge faced, Aakash opens up about how his latest venture is very different and far from a traditional business. It is a very competitive fresh space.

According to him, market research was the biggest challenge, “When you take opinions, you get plenty of them; but you don’t get any advice,” building upon these opinions was something he stuck by. Logistics and distribution channels were specified upon, but nothing is difficult, as we get more experience.

While concluding with his plans for the future of the brand, Aakash is determined on establishing Vaum within major Indian metro cities by the second half of this year and if the pandemic cooperates, internationally by the second half of next year

JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 25

INTERVIEW

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D S PRASHANT

“An incubator has to produce successful firms that will leave the program viable and freestanding”

D.S. Prashant, CEO of Forum for Innovation Incubation Research and Entrepreneurship (FiiRE), a technology business incubator at Don Bosco College of Engineering, Fatorda, speaks about the evolution of the forum and its work in handholding startups in Goa How did the idea of FIIRE evolve?

Technology Business Incubation is a business support process that accelerates the successful development of startups and fledgling companies by providing entrepreneurs with an array of targeted resources and services like mentorship, ideation and technical support, access to resources. A business incubator’s main goal is to produce successful firms that will leave the program viable and freestanding.

The Forum for Innovation Incubation Research and Entrepreneurship (FiiRE), a technology business incubator, was established with the support of the Department of Science and Technology, Government of India and is hosted at Don Bosco College of Engineering, Fatorda.

FiiRE started operations in 2018 with a focus on product development and manufacturing startups.

The initial focus was on identifying and promoting startups. Now that FiiRE has a sizable number of startups in the portfolio, the emphasis is on ensuring investibility of startups. FiiRE supports technology startups on a journey to build a sustainable business that solves a real pain point, has global impact, and provides value to customers.

What is the range of startups incubated at FiiRE and what sectors are they working in?

FiiRE works with a gamut of startups, right from the ideation stage, to startups who are ready to raise funds. This includes student startups, early stage startups, rural innovators, industry linked, startups from accelerator programs and technology

pivotal role in promoting the startup culture in the State.

Goa Startup Policy 2017 was unveiled by Government of Goa in September 2017 to provide State support to entrepreneurs in their ventures and to promote entrepreneurship and innovation by playing a more direct role in the startup ecosystem. The Goa State Innovation Council which is the state body to promote innovation in the state of Goa conducts several activities to promote innovations.

D.S. Prashant

transfer. FiiRE has mentored 75 startups to date. Currently, we are actively involved with 45 startups.

FiiRE startups are working in Edu Tech, AgriTech, Clean Tech, Health Tech, AI/ML, Automotive Commerce, Product Development, IoT, Supply Chain Tech, and Marketing/Gaming Tech.

As an incubator, what support do you receive from the government to harness the startup culture in the State?

FiiRE is established with the support of the Department of Science and Technology, Government of India under the National Initiative for Developing and Harnessing Innovation (NIDHI). The NIDHI scheme envisages connecting and strengthening all the links of the innovation chain – from scouting to sustaining; and from scaling to showcasing. Promoting and accelerating young and aspiring technology entrepreneurs, is a program specifically to support young

26 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

innovators to help turn their ideas into PoC (Proof of concept).

Entrepreneurs-inResidence Programme is another program initiative introduced to inspire the best talents to be entrepreneurs, to minimise the risk involved in pursuing startups, and to partially set off their opportunity costs of high paying jobs.

Seed Support System provides financial assistance to potential startups with promising ideas, innovations and technologies. The broad areas covered under the financial assistance include: product development, testing and trials, and test marketing.

The Startup India initiative intends to build a strong ecosystem that is conducive for the growth of startups. It aims to empower startups to achieve growth through innovation and technology.

Apart from the policies of the Central Government, Goa as a State has also played a

What are the principal challenges faced by startups today?

The failure rate is high amongst startups. Identifying the reasons to mitigate the challenges is the first step.

Some of the main reasons why startups fail are: 1.Timing: Is the market ready for the product/service being offered? Sometimes a great product fails because there is no market need or the product has been mis-timed.

2.Team/Execution: Having a team that can execute, adapt, and innovate is one of the most crucial factors that can make or break a business.

3.Business Model: A business model is an important tool for a startup to identify the right customer segment, key activities in terms of implementation of the startup operations and building a sustainable revenue model.

A startup also faces the challenge of having a long gestation period. The time taken to move from idea stage to proof of concept (PoC) to prototype and actual commercialisation can make or break a startup. Availability of the right support in terms of infrastructure, technology, mentors, access to early adoptors, pre-seed stage

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funding is essential for the survival of a startup.

Have any startups at FiiRE been working in the domain of finding solutions in a covidised world?

A few of our startups contributed to the fight against Covid.

1. WellCAREx: (working towards facilitating easy access to health services to the needy) is building a low cost oxygen generator for rural India.

2. Sabkamandi: an app to digitize distribution networks built by Decimi Technologies Pvt. Ltd. was used for the distribution of essentials.

3. Sensort: an electronics company oriented towards using technology to build a greener, more sustainable future, built an automatic sanitizer dispenser, sanitization tunnel to fight Covid-19.

4. Innovent: worked with educational institutes from Goa to 3D print face masks for medical personnel.

5.

The Sobit Company: a software engineering consultancy working in the blockchain space, built a subscription service as part of Coronathon.in to send hyperlocal information and updates to the underprivileged to combat fake news and provide reassurance.

6. Spark + Technologies: an IT startup with the vision ‘for local people with local people’, built a common social collaboration platform with authorised entities to provide help and bring awareness – forgoa.in was a platform to connect with people of Goa to provide them required emergency service like medicine, food, grocery, and other basic essentials. In addition to this, the forgoa platform also shared information on the list of businesses open by cities during this critical time.

What exchange do you envisage for successful and mature startups towards young and struggling ones?

The beauty of an ecosystem provided by an incubator is the opportunity for startups to share knowledge and pick brains. A founder who has done an ITI course gets an opportunity to interact with an IITian founder. Successful startup founders often share their startup journey with young founders which serve as motivation. Successful startups can offer support in terms of technology or marketing as startups which are just taking off, very often do not have the necessary funding to hire talent.

Introductions to startup networks and angel investors would also help fresh startups to leverage the benefits from the ecosystem.

How has the industry responded in so far as being customers to the startups incubated at FiiRE? FiiRE runs a program called VHack which is a hackathon to identify solutions to challenges faced by various industries. Under this initiative, FiiRE ran VHack in association with Goa Shipyard Ltd. to find solutions for needs identified by their Human Resource department. Two startups were shortlisted and invited to get a deeper understanding of the requirements and quote for the proposed solutions.

FiiRE has also signed a MoU with Goa State Industries Association (GSIA) to provide opportunities to startups.

Through this collaboration, a startup Neerovel Innovations Pvt. Ltd. has been assigned the task of efficient water management at the industrial estates.

What are the various events and initiatives that you have undertaken at FiiRE? 1. ‘VHAcK’ Hackathon in association with industries to identify solutions to challenges faced by them to increase efficiency at a department level and the organisation as a whole.

2. ‘HEAT’ (Helping Entrepreneurs Achieve and Thrive) connects startups with relevant technical and functional mentors, for scaling up. The process also includes goal setting and review by peer entrepreneurs and learning through shared experiences.

3. ‘Investor Meet Demo Day’ is a networking and pitching event to help startups who are at an early stage connect with investors for feedback and startups at a revenue stage pitch for fundraise.

4. ‘Lets Solve Your Problem’ is about building on ideas to solve immediate challenges post-pandemic.

5. ‘FiiRE Starter Kit’ is an open source kit for startups to begin exploring their next big idea. A collection of tools and freemium resources to help launch a startup.

6. ‘Stademy’ is a flasgship startup competition, to help entrepreneurs set up joint ventures, with founders from other countries.

7. ‘Idea Generation using Patent Information’ is about understanding patent search methodology for national and international patents and using the information of lapsed patents for setting up a new business.

Share with us any funding or

other validation breakthroughs among your incubatees Decimi Technologies Pvt. Ltd., an online distribution model, has raised funding of `65 lacs from angel investors.

The following startups have filed patents for their products: Rekise Marine Pvt. Ltd. is building an autonomous battery operated vehicle assisted by Goa Shipyard Ltd. Barve Technologies is building a life saving temperature regulating medical device.

La Fabrica Craft Pvt. Ltd. has designed a paper bag that can carry upto 10 kgs.

Team Yaguar, which is a student startup, has designed a venting system for reducing the pressure drag of a heavy vehicle. They have also designed a multi-contour duct for velocity improvement.

How is your growth and sustainability outlook for the next one year in the backdrop of the pandemic?

The lockdown in 2020 has given startups, entrepreneurs and technology companies time to rework on their plans, ideas and has increased the demand for incubation support and workspace infrastructure. This has had a significant impact on our growth curve. Goa has become the ‘Work From Home’ destination for the startups and we are experiencing it first hand with the demand for space increasing steadily.

The current situation has now forced us to put plans for expansion at Fatorda. We are also looking to open up a few seats shortly in Panjim

JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 27

CAMPUS

@businessgoamagazine

GIM students win the prestigious 2021 Flourish Prize The students of Goa Institute of Management (GIM) have won the prestigious 2021 Flourish Prize, from a total of 585 entries.

The B-school won the honours from the team’s submission of the story on Jaipur Rugs which highlighted the Global Goal #8 – Decent Work and Economic Growth – part of the 17 UN Sustainable Development Goals.

This winning story was one of the 17 best stories that exemplified how businesses can act as a positive force for ethical causes that can demonstrate progress.

AIM2Flourish is the world’s first higher-education curriculum for the UN Sustainable Development Goals (SDGs) and Fowler Center for Business as an Agent of World Benefit at the Weatherhead School of Management, Case Western Reserve University, USA. The initiative recognizes the positive impact of the business leaders of today while amending the ways in which tomorrow’s leaders are taught.

A team of 7 students from

GIM presented an extensive and pioneering story ‘Seeing the World through the Lens of Potential’ on ‘Jaipur Rugs’ under the guidance of Professor Divya Singhal, Chairperson Centre for Social Sensitivity and Action, GIM and as part of their Social Responsibility and Action (SRA) course.

Abhishek Kaushik, Ayush Bhagoliwal, Chadarajupalli Leelavamsi, Gaurav Kumar, Shubham Bisht, Siddhi Maheshwari, and Sooraj Prabhakar, students of GIM identified the business’ myriad innovative strategies by interviewing the organisation’s top managers.

“As their Professor, I am

thrilled to see the student teams winning the 2021 Flourish Prize. Personally, it has been an amazing learning experience guiding student groups working on identifying, interviewing inspiring stories about positive and profitable business innovation in 2020”, said Prof.

Divya Singhal of GIM, while expressing her elation about the team’s victory. Shubham Bisht, student of PGDM 20202022, GIM, while delineating his experience said, “Jaipur Rugs has efficiently executed an administrative and supply chain aid for the weaving community in rural India.

We were greatly influenced by their grass-root level

involvement with the community and how they absorbed the essence of what it means to belong to the weaving community of India.”

Out of the 17 Sustainable Development Goals (SDGs), the team received the award for SDG 8: Decent Work and Economic Growth. Added Ajit Parulekar, Director, GIM, “We are delighted that the students of GIM have won top honours at the prestigious 2021 Flourish Prizes. GIM has been doing a lot of work related to sustainable development.

GIM was the first Indian business school to publish their Sustainable Development Goals (SDG) related best practices on the International SDG Dashboard developed by Erivan K. Haub School of Business at Saint Joseph’s University, USA.” Each year, the Fowler Center honors the bestof-the-best stories with 17 Flourish Prizes – one for each UN Sustainable Development Goals.

These 17 Flourish Prize winners will be honoured via a virtual celebration in October later this year

ART OF GOAN CUISINE WITH CHEF EDIA COTTA AND CHEF SANDIP MADKAIKAR V. M. Salgaocar Institute of International Hospitality Education (VMSIIHE), recently hosted an online masterclass on Goan Cuisine with two celebrated Goan chefs - Chef Edia Cotta and Chef Sandip Madkaikar.

The webinar was open not only to students but anyone interested in the craft of Goan cuisine, including passionate home cooks.

Chef Edia Cotta comes with over 35 years of experience in the art of traditional home-style Goan cuisine, having worked at some of the most reputed hotels chains in Goa. Meanwhile, Chef Sandip, Assistant Professor of Food

The webinar was open not only to students but anyone interested in the craft of Goan cuisine, including passionate home cooks Chef Edia Cotta and Chef Sandip Madkaikar during the Masterclass on Goan Cuisine

Production at VMSIIHE is proficient in traditional Goan Saraswat cuisine. Together the duo hosted the masterclass which was well attended.

Chef Edia in her inimitable style demonstrated how one can make a perfect

28 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

Bafado and a Fish Guisado as the viewers watched her every move and asked questions during the session.

Chef Sandip demonstrated the other aspect of traditional Goan food as he shared his take on delicacies like

Moongachi Gathi, Bharillyo Kullyo (stuffed crabs) and various other dishes cooked in the traditional Goan Saraswat style.

Chef Sebastian Breitinger, VMSIIHE’s Professor in Culinary Arts co-ordinated the masterclass session, ensuring an orderly experience

BOOKSHELF

www.businessgoa.in

AUTHOR: MICHAEL DELL | PUBLISHER: PORTFOLIO

PLAY NICE BUT WIN From Michael Dell, renowned founder and chief executive of one of America’s largest technology companies, comes the inside story of the battles that defined him as a leader In 1984, soon-to-be college dropout Michael Dell hid signs of his budding PC business in the bathroom of his University of Texas dorm room.

Almost 30 years later, at the zenith of his success, as founder and leader of Dell Technologies, he found himself caught up in a battle for his company’s survival.

What he’d do next could ensure its legacy – or destroy it completely.

Play Nice But Win is a gripping account of the three battles waged for Dell Technologies: one to launch

it, one to keep it, and one to transform it. In this book, Dell reveals the highs and lows of the company’s evolution amidst a rapidly changing industry – and his own, as he matured into the CEO it needed.

With humour and humility, Dell recollects the mentors who showed him how to turn his passion into a business; the competitors who became friends, foes, or both; and the sharks that circled, looking for weakness.

The book highlights the fact that technology is ultimately about people and their potential, which ultimately lead to his success.

More than an honest portrait of a leader at a crossroads, Play Nice But Win is a survival story

proving that while anyone with technological insight and entrepreneurial zeal might build something great – it takes a leader to build something that lasts.

Michael Dell is chairman and chief executive officer of Dell Te c h n o l o g i e s , an innovator and technology leader providing the essential infrastructure for organisations to build their digital future, transform IT and protect their most important information.

Michael is an honorary member of the Foundation Board of the World Economic Forum and is an executive committee member of the International Business Council. In 1999, he and his wife, Susan, established the Michael & Susan Dell Foundation

JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 29

GREEN BRAND

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EP KAMAT GROUP

The environment friendly bio STP

A Bio STP keeping in line with the company’s mission of a clean and green planet

H

By SYBIL RODRIGUES

uman waste (faecal matter) disposal is an ever growing problem leading to the threat of organic pollution and rise of infectious diseases due to contamination of ground water, food chain and drinking water resources.

Our local government bodies have been unable to cope up with the population explosion and as a result we have some unfavourable conventional technologies like septic tank systems which need to be re-looked into so as to preserve and save our environment for future generations.

EP Kamat Group, a Goan enterprise, certified providers of STP-ETP solution; in line with its mission of a clean, green and safe planet has come up with an innovative design which replaces traditional septic tanks with Bio septic tanks for individual homes and bio STP for housing complexes.

Bio-septic tank uses DRDO technology innovatively, to customise the waste treatment process for

optimum results and minimal cost, while delivering desired results, thereby contributing effectively to environment protection and Swacch Bharat mission. Bio STP Plus is a combination of a biodigester and reed bed which makes it a unique operation and maintenance free system.

The major difference is in the manner in which the human waste is treated. In the past few years, a variety of treatment solutions have come up in the market but none of them are as popular and efficient as the Bio-Digester Technology developed by DRDO, Ministry of Defence, and Government of India.

This technology was initially developed to cater to

30 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

Anaerobic Microbial Inoculum (commonly called as the AMI: Anaerobic Microbial Inoculum). This is a non hazardous solution which is poured into the bio-digester tank and works round the clock to treat the human faecal matter and converts it to water, bio gas.

Rajkumar Kamat

the needs of Indian soldiers posted in high altitude regions. With successful results, the technology is being offered to the entire country under the Swacch Bharat Mission. DRDO is a premier research organisation and has left no stone unturned to ensure that the very best technology is offered to the market.

The BIO- STP has three key components which perform the task of treating human waste matter and converting it to safe water fit for irrigation / gardening. It is also called hybrid system as both Anaerobic and Aerobic reactions are being utilized.

Bio-Digester: A specially designed tank which contains the AMI and into which flows the black water (toilet discharge). This tank can be installed over or under the ground as per the site requirements. It is delivered factory assembled and only the inlet and outlet connections have to be made at the site.

Reed bed: innovative system, which contains the layers of different sizes of media, compost soil/mud, where typical water sucking plants are grown. Plants roots consume unwanted material & roots provide oxygen. The process of oxygenation takes place; hence aeration reaction is established.The water which comes out of reed bed is used for gardening or horticulture.

“EP Kamat Group hopes to substantially reduce ground water contamination as well as use of energy through these environment friendly products for greener future,” says Founder and Managing Director, Rajkumar Kamat

(FOUNDATION DAY - Date : 06 JUNE 1972)

PROFESSIONAL DOSSIER

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DR. SANAT BHATKAR

“I would always wish to make a positive difference to all lives”

The young doctor speaks about his journey on becoming a neurologist and conducting a non-invasive brain surgery on a six-year-old boy, along with his team

I

By SYBIL RODRIGUES

n a unique non invasive brain surgery, one of the first of its kind in Goa, medical professionals at the Healthway Hospital, managed to revive the fading eyesight of a six-year-old boy, who had suffered from a sudden onset of paralysis of his left eye muscles, which had made it unable for him to open and move his eye and affected his vision.

MRI of the brain had revealed an abnormal outpouching (aneurysm) in his left internal carotid artery with bleeding in the brain behind his left eye, as well as swelling of the eye muscles and pressure on the optic nerve.

Open neurosurgical clipping on the outpouching was nearly impossible, due to its dangerous location and risk of rupture and infection.

Hence Endovascular coiling was done for him and platinum coils were used to pack the outpouching (aneurysm) and hence the risk of re-bleeding was taken care of.

This was amongst the first paediatric neurointerventions done in Goa, by Dr. Sanat Bhatkar, interventional neurologist, who led the team which conducted the endovascular procedure.

Dr Sanat is the first interventional neurologist in the State, having graduated from the prestigious Post Graduate Institute of Medical Education and Research, Chandigarh, arguably the best institute in the country alongside AIIMS, Delhi.

Having completed his schooling from Sharada Mandir School, Miramar; Sanat has always been a quiet and compassionate person

Dr. Sanat Bhatkar

who loves to help out people in need. “Probably that subconsciously made me lean towards the medical field though my liking for both mathematics and biology were equal. But then, the main reason even now, was that I wanted to always make my family proud.”

Dr Sanat then went on to do his MBBS from Goa Medical College and chose Internal Medicine as his specialisation. However, he didn’t get a seat in Goa and had to drop a year and take up coaching in Delhi for the All India Post Graduate medical entrance exam. The risk paid off and he got an internal medicine seat in Government Medical College, Surat.

He then went on to do his super specialization (DM) in Neurology from PGIMER, Chandigarh. He trained there for 3 years under stalwarts like Professor Prabhkar and Professor Lal, which helped him polish his skills and further enhance his patience and love for neurology.

“I still remember just after my DM practical exam, my examiner asked me which institute would you like to join post DM and I told him I just want to go back to my

32 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

homeland Goa to serve my people. It may sound clichéd but that has always been the case.”

Dr. Sanat then came back to Goa where he worked as an Assistant professor in Neurology at GMC for two and a half years. But the hunger to learn more and make a bigger difference to society persisted; which made him leave his job and pursue a 2 year post doctoral fellowship in Interventional Neurology at King Edward Memorial Hospital, Pune under Dr Anand Alurkar, a pioneer of the same in India along with Professor Anil Karapurkar (coincidentally a Goan).

Dr. Sanat then goes on to elaborate about the recent procedure undertaken by him on the 6 year old boy.

“The coiling done for the 6 yr old boy at Healthway was one of the first pediatric neurointerventions done in Goa. These include diagnostic brain and spine angiographies; interventions in paralytic brain stroke like removal, neck and brain vessel stenting; as well as those in brain hemorrhage like coiling, flow diversion and embolization.

These are minimally invasive procedures done in the cath lab via femoral artery approach and have advantages of minimal blood loss, lesser risk and minimal procedure related morbidities and most importantly, miraculous results.

The only related disadvantage is the higher costs for the complex imported hardware since most of them aren’t currently covered under the government insurance schemes (DDSSY).”

Other members of the Healthway Hospital team, which conducted the unique

procedure also comprised of Dr. Sumant Prabhudessai (paediatrician) and Dr. (Mrs) Bharati Sawant (anaesthetist) and the Cath lab team.

Dr. Sanat goes on to add that the boy was discharged in a couple of days, with complete improvement in vision, partial opening of the left eye and some improvement in eye movements; and is expected to completely improve in the next 8-12 weeks.

The most challenging thing in his profession, Dr Sanat says is the lack of public awareness. “The main challenge I feel here is the lack of public awareness about many neurological conditions and of the recent treatment modalities available for Stroke (paralysis) and other neurovascular abnormalities.

But Goa being a small and educated State with a progressive government, things should fall in place over the coming years.”

Dr Sanat speaks on the plans that keep him excited.

“The kick of bringing something advanced and necessary to your own people along with teaching something new to earnest doctors is what keeps me going.” He hopes to be able to do such procedures regularly in private and government establishments over the next few years and helping streamline these procedures in Goa will be the most satisfying thing for him.

Dr Sanat has always been a family person to the core and his entire family has been extremely supportive of every step taken in his career. “I owe everything to my grandparents, parents, brother, my wife and most importantly to the Almighty who has been my guide, my motivator and my backbone at every moment of my life” With regards to his future plans, Dr Sanat says, “I would always wish to make a positive difference to all the lives that I touch professionally and personally”

CSR

@businessgoamagazine

Ulhas Jewellers supports Covid relief

Ulhas Jewellers, under the leadership of Vikram Verlekar, has been at the forefront of covid relief activities

In a bid to support Goa’s fight against COVID-19, the famed jewellery house in Goa, Ulhas Jewellers has joined hands with various organisations to make a difference to the society.

Goa Sikh Youth Association, based in Bambolim has been providing fresh vegetarian meals daily free of cost to the covid patients, their families and friends. The group was one of the first to respond to the calls for oxygen cylinders to be provided in time of need.

Popular Front of IndiaGoa is another association that came on the streets to feed the hungry in this

corona pandemic times. Their selfless work of giving free rations, giving decent burial / cremation to the covid victims, ambulance / hearse Van Services to help covid positive and victims etc. has been going on in this 2nd wave. The jewellery house has extended their support to the organisation to promote their exemplary work for the people.

Gomantak Pashu Rakshak Sanstha has selflessly been rescuing, adopting and providing shelter to stray animals over the years.

This pandemic has been a challenging time for the animals. Ulhas has been

MRF Ltd (Goa) supports GCCI and Rotary Club Panaji Mid-Town in the fight against Covid-19

Manoj Caculo (President GCCI), Goutam Raj (Plant Head, MRF Ltd - Goa) and Yatin Parekh (President of Rotary Club Panaji Mid Town) and others

In its continued effort towards the fight against Covid-19 pandemic, MRF Ltd, a member of Goa Chamber of Commerce and Industry (GCCI), through its CSR initiative, donated 4 oxygen concentrators to GCCI on 17th June at GCCI Secretariat.

These were later handed over to Rotary Club of Panaji Midtown for their ‘Breath of Life’ project which has earned immense appreciation from the beneficiaries.

Goutam Raj, plant head, MRF Ltd (Goa unit) handed over the oxygen concentrators to Manoj Caculo, President GCCI. Rotary Club of Panaji Mid-town team comprising of President Yatin Parekh; Secretary, Rajiv Shirodkar, members, Charles Bonifacio and Sachin Bhandare thanked GCCI profusely for their continued support and contribution in making the ‘Breath of Life’ project successful

contributing is a small way to their cause.

Earlier this month, Vikram Verlekar, Managing

Director of Ulhas Jewellers orgainised a blood camp at Margao in association with GMC blood bank

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BIZ BYTES Hyundai Alcazar ready to hit the road Hyundai Motor India Ltd announced the commencement of bookings for its upcoming 6 and 7 Seater Premium SUV – Hyundai Alcazar.

The company is accepting bookings at Hyundai dealerships and on its online car buying platform.

Commenting on the Hyundai Alcazar booking announcement, Tarun Garg, Director (Sales, Marketing & Service), Hyundai Motor India Ltd., said, “We are pleased to open the bookings for Hyundai Alcazar, our Premium 6 and 7 seater SUV that will offer our customers quality time, making travelling together a more memorable and fun experience.”

Hyundai Alcazar is all set to redefine premiumness, comfort and versatility for an unrivalled travel experience.

Creating a harmonious synergy of premium interiors and futuristic technology, Hyundai ALCAZAR will be offered with premium dual tone cognac brown interiors.

Hyundai Alcazar is all set to redefine premiumness, comfort and versatility for an unrivalled travel experience The cabin inspires a soothing and elegant ambience, while projecting a magnificent and lavish in-car experience that is accentuated

by Hyundai Alcazar’s segment leading wheelbase of 2,760 mm. Hyundai Alcazar will come with a host of advanced and hi-tech features.

Based on Hyundai’s global

GCCI’s webinar on Amendments to Tax Laws

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Cutting on Squares, an online masterclass

by Philu Martins

design identity of sensuous sportiness, Hyundai Alcazar characterizes a unique design theme that represents a masterpiece of superior craftsmanship.

This 6 and 7 seater Premium SUV features a wing-surrounded architecture on the dashboard, thereby accentuating the feeling of spaciousness and modernity.

Further, customers can choose from four powertrains that include 2.0 l Petrol MPi engine and 1.5 l diesel CRDi engine with options of 6-speed manual and 6-speed automatic transmissions

Philu Martins

Philu Martins will be commencing an online masterclass, CUTTING ON SQUARES, from 21st June to 25th June 2021 between 5 pm and 6 pm.

The class will have an introduction to basic bodice block and body measurements, teach one how to drape an evening gown with just one stitch.

One can learn how to make a funky jacket and tunic, along with a wrap skirt, sarong and kaftan

CESL EXPANDS INTO ELECTRIC VEHICLES

CA Rohan Bhandare, Sanjay Amonkar (Director, GCCI) and Kishore Shah (Director General, GCCI)

Goa Chamber recently organised a half day webinar on ‘Important Amendments in GST, Income Tax and Company Law.’ Many Goan SMEs and key stakeholders attended the webinar, as the topics covered were very relevant and substantially affecting the day-to-day business.

The webinar provided an opportunity for creating awareness on important amendments relevant for finalization of accounts for FY 2020-21 that were recently made in Companies Act and Income Tax Act. Further on 28th May 2021, vide the 43rd

GST Council meeting, various key decisions including GST Amnesty scheme were recommended which were also discussed.

The speakers for the webinar CA Gaurav Kenkre covered the topic on Amendments in GST and CA Rohan Bhandare spoke on the topic of Amendments in Income Tax and Company Law. Moderator for the event CA Parimal Kulkarni, Chairman, GCCI’s Taxation Committee, welcomed all the participants Ambika Dhakhenkar, Assistant Director, GCCI co-ordinated this webinar

Convergence Energy Services Limited (CESL) has forged key partnerships on World Environment Day in an effort to further the deployment of electric vehicles in the country.

Agreements and MoUs have been signed with state governments of Goa, and Kerala to procure over 30,000 two and three-wheelers. This is the first entry to the 2W and 3W segments in the country, with solutions uniquely designed to deliver affordable financial solutions to buyers.

Under the agreements, CESL will also invest in establishing the electric vehicle

charging infrastructure and monitor the use of the assets.

This customer-oriented approach is designed to deliver good ease-of-use and better accessibility.

Nilesh Cabral, Minister of Power, Environment, New and Renewable Energy, Government of Goa said, “Availability of two-wheeler EVs and its associated infrastructure can garner widespread demand and popularity, especially in a state like Goa. We are happy to partner with CESL and looking forward to escalate the progress in making Goa a green state”

JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 35

EVENT

business-goa

There is always Hope

A26

H

ope Goa is a day-long entertainment extravaganza that will be streamed online on YouTube on 20th June 2021. It is being organised by Slipdisc.in and View Playlist and is sponsored by Obrigad mineral water, an exclusive product of Goa. It is supported by Michael Lobo, Minister of Waste Management, Science & Technology, Port & Rural Development of Goa and by Dr Peter Castelino, a well known psychiatrist and founding member of the Cooj Mental Health Foundation.

The event aims to raise funds for a Covid Care centre for Children – as part of the Don Bosco Shelter Home, Parra. This centre will be fully equipped with all facilities to house and treat asymptomatic and mildly symptomatic kids.

In the course of a free food initiative organised by Keith’s Parra Coffee Club, he and his team met many people in Mapusa, Parra, Arpora and Calangute and saw that there was an urgent need to do something to lift the spirits of the people.

Slipdisc is the event agency behind Goa’s most successful Rock show, ‘Battle of The Bands’. There were several requests from performers to revive this event in 2021 so people could have something to look forward to.

However, given the current protocols of social distancing and crowd assembly, it was highly unadvisable to organise an

The Rituals

36 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

Slipdisc.in and View Playlist to host a day-long entertainment extravaganza to raise funds for a covid care centre for children

Colin Dcruz - Jazz Goa Keith Fernandes

event of that scale. That was when some of the young performers themselves suggested an online event. So in order to take this idea forward, Slipdisc.in tied up with Ryan Mathias’ View Playlist for the organising of the event online, and Bina Nayak for the creative designs.

The response has been phenomenal!

50+ performers have signed up and sent in clips of their performances. They have rock bands, hula hoopers, individual musicians, jugglers, stand-up comedians, confectioners, cocktail mixologists and many more.

These are just the top 20 of the well known performers: Hema Sardesai, Ryan Mark, Naisa Lotlekar, A26, Jazz Goa Colin Dcruz, Keith Antao, Lenon Pires - Sonic Zone, The Rituals, Carlos FC Goa Drummer, Fraizer Fernandes, Groove Dakshina, Snaden Shawn, Silver Linings, Akash Mangueshkar, Sheena D’cunha,

Nelly Castello E Pereira

Hema Sardesai

Naisa Lotlekar

Karan K Lamani, Nelly Castello E Pereira, Xanisha & Croyden, The Runks and the host, Jefferey Manuel.

The entire event will be streamed live on YouTube on the ViewPlaylist Channel. People wishing to be a part of the event will be able to actually be on the screen along with the performers.

ViewPlaylist has worked out a format where interested people will be given a QR code to log in and be a part of the action – by sharing screen space with their favourite performers – what a great way to show them love.

According to Keith Fernandes, CEO of Slipdisc.in, the global Goan diaspora has shown great enthusiasm towards the Obrigad Hope Goa event. They have not just donated money – they are sponsoring ICU beds and equipment, oxygen concentrators, BiPAP machines, ventilators, medicines etc. According to some sponsors, they are very happy to be a part of this initiative that is genuine and transparent.

Audience from all over the world is expected to tune in. They are grouped under India & Asia, UK & Europe, Middle East & Africa, America & Australia.

There will be different QR codes or links for these different groupings.

This is a first of its kind live online entertainment initiative by Slipdisc.in and View Playlist

Jeffrey Manuel

Ryan Mark

ACCOLADES

@businessgoa

REAL SODA

The Real Fizz of Goa steps into its 50th Year Real Soda was R the brain child of eal Soda was first manufactured on 6th June 1972 by Real Drinks Pvt Ltd, a branch of Real Group of Companies .

The brand name REAL was coined by its founder Late Gajanan G Shirodkar and all the companies are collectively called Real Group.

Real Manik was a product conceptualised by Gajanan in the memory of his late mother Manik Ganu Shirodkar.

Real Soda and Real Group is a popular and well known trademark and most of the companies have ISO Certification.

Cafe Real, Real Drinks, Real Food Exporters, Real House and Bottling, Agencia Real, Real Agencies and Party Hall are some of the key role companies and branches of Real Group of Companies.

late Gajanan G Shirodkar, who launched the brand in June 1972

Gajanan G Shirodkar

Late Dilip Shirodkar also has played a major role in the development and success of these companies.

Real Drinks Pvt. Ltd. was started by late Gajanan G Shirodkar in 1972. Since then, the company has been manufacturing non-alcoholic beverages like Real Soda,

Cola, Orona, Lemony, Real Manik (clear Lemon), Tonic Water, Kane Mix Berry, and a high quality packaged drinking water under the brand name, Real.

Real Drinks Pvt. Ltd is an ISO (220002005) certified company. Real Drinks Pvt Ltd. is one of the most important arms of the Real Group of Companies which enjoys tremendous goodwill and good reputation due to its

high quality standards.

The mission of Real Drinks is to provide customer satisfaction, by assuring customers of only the best quality products at all times that comply with all food safety requirements, and enhance the brand image of the company. At Real Drinks, they have HACCP certification which analyses hazards and recognizes the critical control points in order to prevent danger.

The brand is passionate about customer care

JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 37

CORPORATE CITIZEN / DANIEL ALBUQUERQUE

Singapore, the Favourite Destination for Commercial Arbitration

As businesses increasingly seek more stable and implementable alternative dispute resolution, they also want to choose suitable avenues, both commendably and geographically. In this article, the author presents Singapore International Arbitration Centre (SIAC) as the most popular destination for commercial dispute resolution. Finally, he even offers a challenge!

Rule: Recourse to a court against an arbitral award may be made only by an application for setting aside in accordance with paragraphs (2) and (3) of this article.

(Article 34 - Application for setting aside as exclusive recourse against arbitral award, UNCITRAL Model Law on International Commercial Arbitration (1985). The above indicated clause 2 states that the arbitral award may be set aside only if the party making the application provides proof for the claim. Further, clause 3 states a time limitation of three months after the arbitral award is made if appeal has to be filed.

The Context: This is fairly the newest arbitration case that came to light due to one of the parties to arbitration having appealed to the High Court of Singapore, for relief concerning the grievance against conferring of the award by the Arbitral Tribunal. The Court, in turn, refused to interfere with the arbitral award. Consequently, this judgment further strengthened the confidence of the companies in the Singapore International Arbitration Centre (SIAC). Global trading businesses have developed trust and confidence in the neutral and wholly free of corruption processes. The legal fraternity has further strengthened the faith in the arbitration system by rendering exemplary efficient and professional service. The following case demonstrates as to how even the local judiciary respects the awards of the arbitral verdicts.

The Case: The dispute arose concerning the arbitral award between two companies, CDM and CDP partnered for offshore oil rig who had arbitral contract with SIAC. The appellant (CDM) and the defendant (CDP). The appellant approached the High Court and finally the Supreme Court of Singapore. To begin with the appellant had pleaded that the arbitral award by SIAC was unfair and partial. Hence, the suit under Article 34(2) of the UNCITRAL Model Law. The appellant challenged the arbitral award in the High Court with the plea that the Arbitral Tribunal had overshot its jurisdiction. But the challenge was dismissed. It was challenged in the

India has all the characteristics of Singapore – geography, history, multicultural population, weather and scores of other qualities – and yet the ‘Singapore Dream’ is a mere phantasm in the imagination Apex Court praying that the company suffered a miscarriage of natural justice.

Having diligently applied its mind, the Court held: a) the appellant failed to establish that the Tribunal had acted in excess to its jurisdiction; b) there came nothing in the way of in breach of natural justice. The Court dismissed the appeal and dealt with order for costs. (https:// www.supremecourt.gov.sg/docs/defaultsource/module-document/judgement/2021-sgca-45-pdf.pdf).

Analysis: The experts hailed the judgment. The media opined the ‘Trojan Horse’ strategy by the appellant company whose intention was to hide behind the UNCITRAL Article 34 for its own gain was exposed. Further, there arose an entirely unnecessary controversy raised in the middle of the judicial process, this time by the respondent concerning the costs. The plea was that with regard to costs of the Court it should be indemnified in its favour. The Court rendered the prayer fruitless by declaring: ‘No presumption of indemnity costs.’

Needless to say that the judgment was immediately received by the corporate world wholeheartedly.

SIAC’s Growth and Popularity Singapore International Centre (SIAC) was founded on 1 July 1991. Over the past three decades it has made remarkable progress and has built a reputation as admirable as all the other things that Singapore is known for. It is a non-profit organization which is guided by its professed values of efficient service, ethically unyielding integrity, building sincere relationships, global outreach, and pursuit of excellence. With well over 400 highly qualified arbitrators and scores of representative offices around the world, it presently holds the top position of arbitration centre in the world, a

The columnist is a writer with Oxford University Press and a published author. Email: albuquerque.daniel@gmail.com 38 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

close second to The London Court of International Arbitration (LCIA) which has a very long history since its establishment in 1883.

It is highly encouraging to note that out of the eight members on the board of directors of SIAC, four of them are of Indian origin, including chairman Davinder Singh. SIAC has established representative offices in India, in Mumbai and Gujarat International Finance-TecCity (GIFT), Gujarat. Indian companies are increasingly flocking to these centres which also establish a very close relationship with the mother institution in Singapore.

SIAC Advantage to Singapore In every field of human development and progress, Singapore, irrespective of its tiny size, is second to none in the world, from the best human development of human indices to science and technology, research and environmental issues. SIAC has further helped to make it a hub of world commerce and trade.

It has enormous impact on Singapore’s financial and legal influence. The citystate of 728 sq km gained independence from UK only in 1959; and has a multicultural sub continental population, close to 7 million. The most important characteristics of Singapore for SIAC popularity are: a) top companies of the world either establish their headquarters or their subsidiaries; b) it functions as the financial capital of the East with the wellknown financial institutions; c) modern infrastructure and communications; d) geographical location is the best for global connectivity; e) as has been already demonstrated above no company can wish for a better administration of the legal system.

Indian Dream: India has all the characteristics of Singapore – geography, history, multicultural population, weather and scores of other qualities – and yet the ‘Singapore Dream’ is a mere phantasm in the imagination. The answer for the success of Singapore is its trustworthy legal system and implementation of clear policies, both with a human face.

Continued On Page 42

LEGAL EAGLE / AMEYA A NAYAK

Uniform Civil Code in Goa: Uniform or not?

The writer discusses the much spoken about Uniform Civil Code (UCC) and its implementation in Goa, the ongoing UCC debate and whether or not, the UCC is actually as desirable and feasible as it seems

A

s most of us are aware, the then Chief Justice of India, S A Bobde in his recent visit to Goa for the inaugural of the new building of the Bombay High Court at Goa, lauded the State’s Uniform Civil Code and urged intellectuals who have been engaging in debates over the workability of the UCC to learn the administration of justice here, in order to figure what it actually is. Earlier, in the year 2019, the Supreme Court of India has labelled Goa to be an illuminating example with a Uniform Civil Code while deciding a matter pertaining to properties of a Goan. Various legal luminaries have been urging the effective implementation of a UCC for India; however, there have been no attempts at framing such a code for the country.

What is Uniform Civil Code?

Interestingly, the founders of the Indian Constitution, in Article 44, in part IV that envisages Directive Principles of State Policy (DPSP), stated that ‘the State shall endeavor to secure for all its citizens, a Uniform Civil Code throughout the territories of India.’

A Uniform Civil Code is one that would enable the operation of a singular standard law for the whole of the nation and would be applicable to all religions alike in matters of personal importance such as marriage, divorce, adoption, inheritance and so on. Nonetheless, the UCC being part of the Directive Principles under Article 44 are not enforceable by any court as per Article 37, but is considered to be fundamental in the governance process.

The main aim of the UCC is to replace fragmented legislations and bring uniformity within the territory of India. Interestingly, during the framing of the Indian Constitution in 1946, there were two sects with diverse views on the ideology of the UCC in the Constituent Assembly. While one faction wanted to wholly adopt the UCC, the other felt that their personal laws would be abrogated by the Uniform Code. This is precisely the reason why the UCC find a very minute position for itself in the DPSPs enshrined within the Constitution.

India’s position with respect to UCC Indian laws, in most scenarios pertaining

to civil matters, do follow a uniform code. Whether it is the Civil Procedure Code, Indian Contract Act, Partnership Act, Transfer or Property Act or the Indian Evidence Act, a uniform law and procedure is what is followed. However, there tends to be diversity in uniformity due to multiple amendments made to these laws by each State. Overall, a UCC is desirable but in a fragmentary style.

That apart, India is also a diverse country with different religions which has always been an essential part of Indian culture.

Even though the UCC is included as a Directive Principle, it has not been implemented across India mainly due to resistance on religious grounds. Goa, happens to be the only State in India that has implemented the UCC which governs all citizens in a uniform manner despite differences in religious values.

Is Goa’s UCC actually as ‘uniform’ as it claims to be?

The UCC in Goa, known as Goa’s Portuguese Civil Code on 1867 is an outlandish cypher that dictates nonenforcement of the Hindu Marriage Act of 1955 and Hindu Succession Act of 1956 or the Indian Succession Act of 1925 or the Shariat Act, 1937 and Dissolution of the Muslim Marriage Act,1939 etc, in Goa. This in turn implies legal pluralism which makes one want to raise questions as to whether the UCC in Goa is really as uniform as it claims?

The civil code in Goa is divided into 4 Parts that deal with civil matters pertaining to property, acquisition of rights, right to property and breach of those rights and remedies for the same.

This code has found its survival by virtue of Section 5 (1) of the Goa, Daman and Diu Administration Act of 1962 that has permitted its continuance in the State.

As far as the marriage aspect is concerned, Article 1057 of Goa Portuguese Civil Code elaborates upon registration of marriages wherein the intent to marry is recorded by the tobe spouses before the civil registration authorities and after a period of 2 weeks, the deed of marriage is executed.

However, for Catholics, signature at the church is considered sufficient for civil registration of marriage. Further, it is found that many women are not aware

about the UCC requiring a subsequent second confirmation through signatures as a result of which, if differences arise, the marriages are found to be invalid or void.

Article 1086 of this Code also empowers Ecclesiastical Courts to nullify Catholic marriages. Usually, the judicial court also recognises such nullification.

However, in case of non-Catholics, the power to nullify marriages lies only with the civil courts, thus raising question about the nature of uniformity between Catholic and non-Catholic marriages.

For Hindus, Article 3 of the Gentile Hindu Usages and Customs of Goa, 1880 provides that a Hindu husband can take a second wife in the absence of objection if the wife has completed 25 years of age and also attained 30 years of age without having a son. This provision of the Goa Code is in direct contravention of both the Hindu Marriage Act as well as the criminal law i.e., the Indian Penal Code of 1860.

Additionally, this Code also makes provisions for pre-nuptial agreements.

Here again, there are 4 types of pre-nups. a. No communion of properties. b. Total separation of assets before and after marriage. c. Dotal regime under which the woman’s share in her father’s property is given to the husband, and; d. Communion of all assets of the husband and wife that are equally divided on divorce or upon death.

If we analyze all 4 types of pre-nuptial contracts, only the last one seems fairly reasonable, but again, the management of properties and related responsibilities are all vested entirely in the husband only.

On the aspect of succession, unlike the Hindu Succession Act that gives limitless testamentary powers, Article 1784 of the Goa Code prohibits the disposal of more than half of the assets by means of a Will.

This is the concept of legitime right. The Goa Succession, Special Notaries and Inventory Proceedings Act also retains this concept.

Even if we look at the state-wise picture on these aspects, not all Hindus across India are governed by the same law. The Hindu Marriage Act, 1955 Continued On Page 42

The writer is an Assistant Professor (Law) at V. M. Salgaocar College of Law, Miramar. Email: ameyanayak@vmslaw.edu.in JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 39

INDUSTRY VIEWPOINT / MANGUIRISH PAI RAIKER

Revival of MSMEs The writer informs about MSMEs being affected due to the pandemic and shares solutions by the Government to help resumption of business activities

M

SME is the growth engine of the economy. The new definition has enlarged this segment and nearly 98.8 percent of the industries come under this classification. There are 63.4 million MSMEs in India contributing 29% of India’s GDP, 49% of exports and is the backbone of Indian economy providing employment to nearly 110 million. This was the scenario prior to the pandemic.

The first wave nearly crippled this industrial segment. However, the resilient nature and never-say-die attitude of entrepreneurs helped to revive the industry. This was gauged from the GST increasing figures until the onset of the second wave of this pandemic. The second wave literally crushed the industry and trade. The business in certain sectors came to a standstill as the viral attack was severe, reducing the efficiency of the people as also took away many amongst us, delivering a severe blow.

MSME entrepreneurs were just trying to come to terms and were on revival path when the second wave came in.

Coupled with lockdown, non availability of workers, difficulty in procurement of raw material, statutory payments of government, and burdened with loan instalments and interest had made life miserable. MSME units also suffered from the non-receipt of their dues from their customers. In Goa, the cyclonic damage has multiplied problems for some.

Although regular business was going on, not all had a similar situation, as the demands were fluctuating and some did not have the adaptability to accept the changes and hence suffered. Currently, about 30 per cent of MSMEs are not impacted at all by this second wave.

Another 35 per cent of MSMEs sustained scaled down operations, and are in position to return to normal operations as the second wave subsides. About 25 per cent of MSMEs have closed down their operations completely but can restart operations as the second wave subsides. It is estimated that around 10 per cent of MSMEs have closed down operations completely and are unlikely to restart operations even after the second wave subsides.

Majority of the units are looking forward to some or the other assistance to carry on with the business. Responding

MSME entrepreneurs were just trying to come to terms and were on revival path when the second wave came in. Coupled with lockdown, non availability of workers, difficulty in procurement of raw material, statutory payments of government, and burdened with loan instalments and interest had made life miserable for MSMEs

the call, Ministry of Finance, Government of India, on account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy, enlarged the scope of Emergency Credit Line Guarantee Scheme as under: (i) ECLGS 4.0: a 100% guarantee cover to loans up to `2 crore to hospitals / nursing homes / clinics / medical colleges for setting up on-site oxygen generation plants, interest rate capped at 7.5%; (ii) Borrowers who are eligible for restructuring as per RBI guidelines of May 05, 2021 and had availed loans under ECLGS 1.0 of overall tenure of four years comprising of repayment of interest only during the first 12 months with repayment of principal and interest in 36 months thereafter will now be able to avail a tenure of five years for their ECLGS loan i.e. repayment of interest only for the first 24 months with repayment of principal and interest in 36 months thereafter; (iii) Additional ECLGS assistance of up to 10% of the outstanding as on February 29, 2020 to borrowers covered under ECLGS 1.0, in tandem with restructuring as per RBI guidelines of May 05, 2021; (iv) Current ceiling of `500 crore. of loan outstanding for eligibility under ECLGS 3.0 to be removed, subject to maximum additional ECLGS assistance to each borrower being limited to 40% or Rs.200 crore, whichever is lower; (v) Civil Aviation sector to be eligible under ECLGS 3.0 (vi) Validity

of ECLGS extended to 30.09.2021 or till guarantees for an amount of `3 lakh crore are issued; Disbursement under the scheme is permitted up to 31.12.2021.

The modifications in ECLGS would enhance the utility and impact of ECLGS by providing additional support to MSMEs, safeguarding livelihoods and helping in seamless resumption of business activity.

These changes will further facilitate flow of institutional credit at reasonable terms.

Industry welcomed this announcement of expanding the role of ECLGS to help MSME at this crucial period. This small help comes as a whiff of fresh air. Additional ECLGS assistance of upto 10% of the outstanding to the borrowers will enable them to overcome the present financial problems. It would have been more appropriate if SME I classified units were allowed to avail of this benefits.

Industry has also requested for automatic renewals of all statutory approvals for the running businesses without charges for the current year. As most of the businesses are not able to function, there is no revenue, in some cases; key persons have been lost to this pandemic. Government as well as banks needs to look at this situation with compassion and humanity. We hope that State Governments will also respond in line with the way the Central Government and RBI has responded

The author is an industrialist and Chairman of the MSME Council of ASSOCHAM. He was president of Goa Chamber of Commerce & Industry. Email: rsaawni@gmail.com 40 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

INVEST RIGHT / MAHESH PAI

Do you understand your risks before investing?

The author highlights the different kinds of investment risks along with ways to mitigate them

W

hen we speak about the types of risks in financial planning, each risk has a different philosophy, a different product and has different strategies to overcome.

To understand this, you may need a risk map which will bring you value with benefits and also understand the maximum risk that you can bear. Risk management begins with building a list with all the possible risks. Below are a few risks to be considered: Tax risk Taxation risk is the chance that tax rules may change resulting in losses due to higher than expected taxes. All of us have some sort of tax risk. For e.g. inheritance tax is one of them. India may not have it but you never know where your children will go, reside at in the future.

You wouldn’t know and which tax law they will have to abide when they inherit your assets. So it is a very heavy risk and identifying tax risk is a major aspect of the risk map.

Opportunity risk Opportunity risk is the fear of missing out risk on the easiest opportunities that come infront of you but you are scared of taking it. Many people say that if you don’t invest now then you will miss this opportunity and regret; it is a different kind of social pressure mixed with the risk. The best example here would be the crypto currency. Many people are buying it, just because of the fear of missing out without understanding the risks involved in it. You should ask yourself on how many times you have invested money just because you were scared of losing an opportunity. But also there are times when we don’t take risks because we feel that we will always have the same opportunity again in the future.

Market risk Market risk refers to the uncertainty associated with the investors’ investment decision. These risks mostly implies for investments like mutual funds, equities etc.

Markets can go up and markets can go down, but some investors believe markets will only go on top or they believe it will only go down, hence market risk is the most dangerous for these investors. As per reports and statistics, the markets

usually goes on top in the long run, we can understand this with a simple analogy. There is a small 10 year old boy playing with a yoyo, a yoyo goes up and comes down like a ball but with the help of the string while standing on the escalator. The momentum of the yoyo is like the pattern and the volatility in the stock market and since he is standing on the escalator he is eventually going on top, this defines the entire stock market in the long term. Market risk is not only associated with one company or industry but instead is dependent of the performance of the entire market.

Mortality risk Mortality risk is the risk of death.

Considering the pandemic, the mortality rate has drastically increased. People are not only dying because of covid but also because of the side effects due to covid, like the black fungus or kidney failure post covid recovery etc. No matter how harsh this looks, the investor needs to manage his risk and invest taking all of this into account.

Liquidity risk In this, the investor cannot meet his short term debt obligations due to the lack of liquid cash. The investor maybe unable to convert any asset into cash due to lack of buyers or an inefficient market.

When the investor faces a cash crunch or liquidity issues, they never understand how instantly it happens. They have a lot of money but one day everything goes wrong and they lose their liquidity. It is the most uncertain risk of all other risks.

Many rich people are asset rich and cash poor but they don’t agree to that because they assume that holding on too much liquidity is bad but knowing how much percentage of liquidity one must hold out of all their assets is what helps to curtail this risk.

Interest rate risk Interest rates affect everything in and around but it mainly affects the investor’s equity portfolio, bond portfolio, loans and liabilities. Sometimes, it doesn’t affect directly. There is no way that an investor can control or mitigate the interest rates. It affects the loans and liabilities unswervingly and the returns on the assets. The best way to reduce this risk is to find the best way to ‘interest

The writer is an investment consultant and business coach. Email: mahesh@maheshpai.in

proof yourself ’. Having an income apart from your business profits / salary and which is not determined by the interest rates will help in the long run.

Sequence of return risk Sequence of return risk is the systematic flow of the returns on your investment without any disruption. Only when this momentum of income is attained, the investor is free from this risk.

You can understand this better with an example, when you buy a property, rent it out and after 20 years it has appreciated, what do you do want to do with it, sell it or renovate it? If you sell it without renovation then you may get 30-45% lesser value on your property but if you renovate it and give it out on rent then would you be able to recover the renovation costs with the regular rent? The real question is “When do you actually get the returns on your investment?”

Inflation risk Inflation risk is a risk that will undermine the returns on the investment which lead to a decrease in purchasing power. When inflation increases, the interest rates goes high but your income still remains the same. Inflation affects everything around you – your bills, rent, commodities, fixed deposit rates and returns on every other asset. Hence, an investor must always invest a part of his portfolio which will beat inflation.

Longevity risk Longevity risk is the risk of the investor living for long. This is the most dangerous risk of all the above mentioned risks. It multiplies the risk of all other risks for longer he lives. It is also known as the risk multiplier. The longer a person lives the higher are the expenses, more income is needed and hence a proper plan is mandatory. There isn’t any way to avoid this risk but planning for it in advance is the key.

Conclusion There are many ways to manage risks and diversification is one of the most popular ways. But this does not act as a cover or shield against the risk but if you are exposed to any of the risks then you are less likely to collapse JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 41

@businessgoamagazine

Continued From Page 39

Continued From Page 38 India can make this dream come true by following these two principles.The Singapore Model is after all is a success, thanks to Indians who have played a role in its making and they are continuing to do so.

Can Goa Do it?: In conclusion, to be more closer home – is such a dream possible for Goa? More specifically can Goa Chamber of Commerce and Industry (GCCI) set up an international arbitration centre which would be a natural undertaking to follow? For it has a collective experience of over a century as one of the oldest in the country under the banner Associação Comercial da

The Singapore Model is after all, a success, thanks to Indians who have played a role in its making and they are continuing to do so India Portuguesa established in 1907, and after the Liberation (1961) as Goa Chamber of Commerce and Industry (GCCI) in 1962.

Under British India, Bengal Chamber of Commerce was the oldest, established in 1854. However, it is an open challenge either to the GCCI or for any other group of experts to take up such a project

42 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

prohibits marriage between close relatives but the same is considered auspicious in Southern India.

The Hindu Code further recognises customs of different Hindu communities.

The Hindu Succession Act, 1955 gave the daughter the recognition of being a coparcener only in the year 2005 and the wife is still not a coparcener! Even today, property devolves first to class-I heirs, and if there are none, then to class-II heirs. While the heirs of sons are moved to class-I, heirs of daughters are not.

Even among class-II heirs, preference is given to the male lineage. Besides being a challenge to secularism across the nation, the UCC in

Goa seems like a far-sighted success in the State, since its application separates religion from areas such as marriage, succession, adoption and so on as discussed earlier. Its implementation across the country would ensure the creation of a more secular society, as personal matters would no longer have any religious shade. Further, all citizens would be subjected to equal treatment and would also ensure liberty and equality towards the womenkind. Although, there may seem to be multiple advantages of putting the UCC into action, rampant incongruities about the UCC being a medium for religious dominion is what is playing the role of a major obstruction in the path of its smooth functioning

BON APPÉTIT

www.businessgoa.in

Let’s Talk Pickles A

By SAACHI PAI KANE

nagha Dande Tarkar, a caterer for the past ten years, shifted to making and selling pickles after the onset of the pandemic. What started off as, a small attempt to recreate her mothers tender mango pickle recipe, led to the creation of a business with a mix of family time.

She started off by making a small batch using 100 mangoes which took off to 300 within weeks. Anagha believes in quality over quantity, “It should have a traditional taste, freshness and should remind people of their grandmother’s pickles.” To her, making pickles is spending quality time with her husband and two daughters.

While one washes the raw mangoes, one cuts them, each of them take part in the process. When asked about what pickle she would recommend her customers to try out, “the tender mango pickle is my favourite and the best pickle that I make.”

It can be paired with chapati, rice and dal/ kadhi or eaten as a side dish with most Indian meals. Besides the tender mango pickle, Anagha also makes a good lemon

Anagha Dande Tarkar

chili pickle, sweet and hot mango pickle, and traditional mango pickle.

Anagha’s advice to all pickle lovers would be to refrigerate them. Her tender mango pickle, in particular, can last for almost a year if refrigerated, with the unpredictable weather changes in Goa, why risk it? Despite a heavy layer of oil, refrigeration is the best move. Despite the existence of her Facebook page, Anagha has continued to use the very traditional yet effective medium of wordof-mouth. Her customers comprise her list of contacts, who spread the word after their remarkable experiences and help her gain more customers. As she single44 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

With the monsoons setting in, lockdowns getting extended, and the endless supply of raw and fresh mangoes, there’s never been a better time to get a taste of Goan pickles

Shubhra Shankhwalker

handedly makes the pickles, she takes in as many orders as she can manage, “This year was a trial, next year I’m going to build on a larger scale, but this year I’m very happy with the number of orders”. With all the positive responses she’s got, Anagha plans on increasing the amount of production by three times next year.

“I make all my orders as per the freshness of the material available,” says Shubhra Shankhwalker.

In 2017, Shubhra encouraged her mother to start making pickles as a means of helping her mother earn some ‘pocket money’, it started off with marketing homemade stuffed mango pickles and that led to bigger food orders when she then named her brand ‘Aai’s’. “Goan food is all about the seasonal fruits and vegetables available, the freshness of the available vegetables matter,” her products depend on what is accessible and good in quality, with her current focus on mangoes, ambade and bimla. A constant during the change in fruits and vegetables is her fresh, homemade masala that binds the pickle together. The concept behind her pickles is to make it homely and comfortable and keep her mother’s legacy going.

The prawn pickle, made with backwater prawns, is a bestseller as fresh prawns are constantly available in Goa. But it’s a ‘make fresh, eat fresh’ sort of product as there are no added preservatives. But the raw mango pickle can last up to 2-3 months if kept outside. Just like the seasonal vegetables, she loves to pair her favourite pickles, the

raw mango pickle and prawn pickle with Urrak, Goa’s seasonal alcohol, or with sol kadhi, rice and pappad.

Her Instagram page ‘Goafromhome’ is a must-follow for foodies. She posts about the different foods she makes and increases her customer base through that.

Her plans for the future are to travel and cook anywhere, and everywhere she can; in Shubhra’s words, “Travel with the basics, like dry masalas. Go to the market to check what’s locally available and cook according to that.

To basically have like a three day pop-up, or hire a kitchen or restaurant for three-four days and cook there”.

Shri Ganesh Kamakshi Foods, by Preeti Pai started off after the company she worked for went through a financial crisis. Preeti had to find a way to pay her bills, “I started this with my moms’ help”. When she started off, it started with taking orders for a small group of friends but with steady growth, she went on to contact the Facebook page, ‘Goan Foodomania’, a page that is dedicated to Goan food and a platform for chefs to contact a larger group of foodies interested in their foods. ‘Goan Foodomania’ does exhibits called ‘Purument’ for Goan cooks to showcase their food, in which Preeti took part.

From the positive feedback that she received, Preeti decided to have a bigger stall the next year and through this Facebook page received more orders for her pickles, jackfruit chips, and papads.

Her food pickles are homely, authentic jars of love made using only traditional handmade methods. “My mother’s recipes are a core part of my food,” she says when asked Maria de Mello

FASHION

COUTURE by NEHA Fashion designer Neha Madan launches her new store in Panjim

F

ashion is something that Neha Madan has been obsessed with since her childhood. According to Neha, fashion isn’t just clothes; it is a medium through which she can express herself She started off designing for her own self and wore what she was comfortable with, not bothering about what someone else was wearing and this was the philosophy foremost on her mind while starting Couture by Neha.

Neha started off with a small venture for friends with the target being trying to understand their ideas, their personality, and bringing themselves out in what they wear, so that they could take on the world one day at a time – in style.

Her husband, Dhruv, pushed her to take the leap and open her own store in Panjim, thus taking the next step in her journey. The vision has always been to provide people with a safe space from

about the secret to the pickles. Besides pickles, Preeti would recommend her customers to try out the jackfruit chips and urad papad. Preeti pairs the sweet pickles with dosas and chapatis and her spicy pickles can go with any meal, especially parathas. All her pickles are preservative-free and can last for almost a year if stored using refrigeration. Shri Ganesh Kamakshi Foods is looking to expand in the near future, hoping that the pandemic does not cause any more issues.

Inspired by her mother, Maria de Mello with the help of her husband Leo de Souza started ‘The Goan Homestead’ in 2010. A brand that revolves around homemade food, organic fruits and vegetables and field produce. They make pickles, mangada, beetroot mango jam and more products. Maria believes that the biggest factor while making her pickles is the quality of raw materials and the hygienic

Neha Madan

where they step out smiling and a little more comfortable in their own skin.

“We do our best to ensure that budget isn’t a problem; pricing and affordability are among many factors that differentiate us from the rest of the stores and one of the many comforts that you can

Preeti Pai

Shobha Khandeparkar

conditions, “My husband and I make everything ourselves, we don’t employ anyone, we like to make it in a particular way with hygiene in mind.”. Maria loves making authentic Goan pickles along with exploring and trying something new out every once in a while, “I like making something different from time to time to keep the customers interested.

We made something called Raw Papaya pickle which is now our specialty.” The Goan Homestead has won quite a few

expect when you step into Couture by Neha,” she says.

She further adds, “Being new to the retail market is a challenge or rather a stepping stone in the journey to dressing up all of India. From the small flat from where I started out to this store, I have come a long way”

awards at the Goan Konkan Fruit Festival of 2016, one of them being the 2016 ‘Best Pickle’ for their Raw Papaya pickle.

Maria would pair her sweet mango pickle with pulao or khichdis, the mango or mixed pickle with fish curry rice and the raw papaya pickle with bread or poies.

Her best sellers are Sweet Mango Pickle, Stuffed Mango Pickle and the Prawn Balchao Pickle. Maria’s products do not contain any preservatives, artificial flavours or colours and are recommended to be stored in a fridge. She targets her customers using Facebook and Instagram page ‘The Goan Homestead’.

She currently has two of her products selling at supermarkets and has future plans of adding more products.

Besides the yummy, tangy taste of this homemade comfort food, Goan pickles are a rich source of antioxidants due to the unripe vegetables used. The turmeric powder in the masala helps boost one’s immunity, and eating Goan pickles also helps improve our digestion process. And like all seasonal things, these too have their expiration dates; get a hold of them while you still can JUNE 2021 | BUSINESS GOA INDUSTRY DOSSIER | 45

NEWSMAKERS Senior journalist Raju Nayak has joined Gomantak as Editorial-Director

Senior journalist Raju Nayak has joined Gomantak as EditorialDirector. In an illustrious career spanning four decades, Nayak has been part of various newspapers in the State. He has also authored books, often highlighting environmental issues in Goa. Khandak has taken a critical view of the mining industry in Goa. As fellow of Delhi-based NGO, Centre for Science and Environment (CSE), Nayak has studied the mining industry from close quarters.

Among the newspapers that he has worked for include Sakaal, Loksatta, Indian Express, Rashtramat, Sunaparant and Times of India. Prior to this assignment, Nayak was the resident editor of Lokmat in Goa. He was conferred with the prestigious Acharya Atre Award for his forthright journalism in 2017

Fr. (Dr.) Richard D’Souza granted time on Hubble Space Telescope

Fr. (Dr.) Richard D’Souza has been granted time on the Hubble Space Telescope to observe galaxies relevant to his theeoretical research on galaxy collisions and evolution. Fr. Richard, a Goan Jesuit priest, is part of the prestigious Vatican Observatory in Rome, and has been doing his postdoctoral research at the University of Michigan. He has his family roots in Poona and Kuwait, but has studied at the local Jesuit school in Mapusa, St Britto, besides at the Jesuit-run St Xavier’s in Mumbai, apart from overseas.

He completed his graduation in Physics at St. Xaviers’ College, Mumbai and proceeded for his Masters in Physics to the University of Heidelberg, where he worked at the Max Planck Institute for Astronomy for his thesis work. Later, he started his doctoral studies in Astronomy at the Max Planck Institute for Astrophysics, in Garching, Munich, graduating in 2016 and joined the staff of the Vatican Observatory

13-year-old Gajesh Naik develops PolyGaj, a DeFi protocol

Gajesh Naik is the developer behind a DeFi protocol that’s managed nearly $7 million in cryptocurrency.

He began learning all programming languages and went on to develop the code. Naik started learning to code five years ago at a dedicated boot camp, using a drag-and-drop tutorial program called Scratch.

At the time, he was just eight years old. Due to the pandemic, Naik has been at home with his parents and little brother. His father, Siddhivinayak, has a degree in computer science, but currently works as a civil service officer. It’s thanks to his encouragement, as well as a newfound passion for cryptocurrency, that Gajesh has been able to sink time into PolyGaj. He has also recorded explanatory videos about crypto for his YouTube channel, and agreed to public interviews with Indian influencers 46 | BUSINESS GOA INDUSTRY DOSSIER | JUNE 2021

business-goa

Gaurish M Dhond to be Governor of Rotary International District 3170 in 2021-22

Gaurish M Dhond will be Governor of Rotary International District 3170 (covering clubs in Goa, Belgaum, Dharwad, Hubli, Kolhapur, Sindhudurg and Ratnagiri districts) in 2021-22.

Owner and managing director of Dhond Hotels, Dhond is also a real estate developer, dealer of IOCL petrol pump, and owns an industrial unit at Kundaim. He presently serves as the President of Goa Hotel & Restaurant Association, Chairman of Indian Red Cross Society (Goa State), Trustee of International Centre Goa, Vice President of Panaji Gymkhana and is associated with many organisations like Mushtifund Saunsthan.

Dhond has also been a recipient of a number of awards such as the ‘Four Avenues of Service Citation Award’ and the ‘Selfless & Gallant Service Award’ by Lion’s International, among others.

Rotary International President Shekhar Mehta, the 4th Indian in 116 years of Rotary International, will install Dhond as the District Governor of RI District 3170 on 6th July 2021

Lenny D’Gama the only Asian evaluator at Tokyo 2020 Olympic Games

Goa’s AIBA certified ITO, Lenny D’Gama will be the only evaluator from Asia to be a part of Tokyo 2020 championship to be held from July 23 to August 8, 2021 in Tokyo this year.

D’Gama’s job at the championship will be to evaluate the referees and judges as per their performance in the ring, during the bouts and to check on the manipulation. India has nine boxers who have qualified for the Tokyo 2020; however, D’Gama is representing as a neutral ITO. “I have been the observer of World Youth Championship held in Poland recently. The job of an observer is very tough as you also have to evaluate the evaluators,” he said 144 1. Which company started out as a menu sharing service called Foodiebay?

2. In 1954, which brand emerged from a partnership between Tatas and Swiss company Volkhart Brothers?

3. Which tech giant was born in a garage in Palo Alto, USA in 1938?

4. ‘Shoe Dog’ is an autobiographical account of which entrepreneur?

5. Kwid, Kiger and Triber are brands from which French auto major?

6. Which Goan newspaper under owner A C Fernandes, made its appearance in English language in October 1983?

7. Dinesh Kumar Khara is the Chairman of which bank?

8. Ashish Hemranjani is the founder of which app?

9. What brand did this duo start?

Answers to BG Quiz 143: 1.Vistara 2. Jabong.com 3. East India Company 4. Benjamin Franklin 5. Reliance Industries 6. Dhanbad 7. Thums up 8. Cigar 9. Startup.

Email your answers to businessgoa.media@gmail.com First all correct entry will get 1 year’s subscription to Business Goa

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